Corporate fintech firm has closed a whopping $40 million series C funding round led by Faering, Amazon, Premji Invest, Sequoia, and others. The startup will utilize the current funding in developing investment products that will allow individual investors to participate in the share market.
Smallcase’s Series C Funding Round Details
On Wednesday, Fintech firm Smallcase has announced that it has raised $40 million led by Faering, Amazon, Premji Invest, Sequoia, others. Existing investors Sequoia Capital India, Blume Ventures, Beenext, DSP Group, Arkam Ventures, WEH Ventures, and HDFC Bank also actively participated in the recent round.
In the concluded funding round, the biggest positive for Smallcase is the participation of new investors Amazon, and Premji Invest. This is the first investment by Amazon in the wealth management startup. While Premji Invest is the private investment firm of entrepreneur Azim Premji. Smallcase has so far raised over $60 million in different funding rounds.
The startup will invest current funding in creating user-centric investment products that will encourage individual investors to share in the capital market. Transparency and a delightful experience for its users and partners are the major objectives of Smallcase while developing the product and online platform.
About Smallcase and its Growth
The company is committed to providing the best user experience by developing core building blocks for all of its customers. In its official statement, Smallcase said, “Our true success will lie in developing the core building blocks for every investor’s portfolio and becoming a key part of their toolkit.”
The startup is offering a new, fast-growing category of investment products by developing an ecosystem of over 250 businesses in the capital markets space including brokerages, advisors, investment managers, and digital wealth platforms.
Talking about the transparency and the other user-centric features, co-founder Kamath said, “We are excited for our roadmap and the future and remain incredibly grateful to our users, partners, and team for their constant love, support, and feedback.”
A six-year-old startup founded by IIT-Kharagpur alumni Vasanth Kamath, Anugrah Shrivastava, and Rohan Gupta has entertained over 3 million users till now. The startup has also claimed that it processes $2.5 billion smallcases yearly.