smallcase raises $50m in Series D led by Elev8 Venture Partners

By Gloria Methri

Indian model portfolios platform smallcase has raised $50 million in its Series D funding round, led by Elev8 Venture Partners with participation from State Street Global Advisors, Niveshaay AIF, Faering Capital, and Arkam Ventures. The funds will be used to expand investment offerings across asset classes and strengthen relationships with retail investors and ecosystem partners.

Founded in 2016, smallcase enables retail investors to build diversified portfolios of stocks and ETFs with transparency and control. Over ₹1.2 lakh crores have been transacted through smallcase since inception. In 2023, the company launched an asset management joint venture with Zerodha to expand into index funds and ETFs.

“smallcase’s vision has always been to build simple and transparent products that are relevant for every investor’s portfolio. The opportunity to help millions of Indians design better financial futures is one of huge responsibility, and we will continue to deliver on it with honesty & integrity along with our partners. I am delighted to welcome our new shareholders who believe in our mission and are grateful to our existing investors for their trust & conviction”, said Vasanth Kamath, co-founder & CEO, smallcase.

“Innovation has been key to everything we work on at smallcase, and over the last year, we have been able to scale our platform to new use-cases, including secured credit. We are excited for our roadmap to expand smallcase to popular assets like mutual funds, fixed income and to introduce new tools for our customers to optimise their wealth and net worth better,” said Anugrah Shrivastava, co-founder, smallcase.

“The smallcase team has built a world-class investment platform that has become a mainstream player in India’s asset and wealth management landscape. smallcase has not only established itself as a trusted brand but also continues to innovate on new formats to further scale its platform. At Elev8, we strongly believe in smallcase’s vision and growth potential and are excited to support them in their journey,” said Navin Honagudi, Managing Director and Founding General Partner, Elev8 Venture Partners.

Other existing investors include Peak XV Partners (formerly Sequoia Capital India), Blume Ventures, Amazon Smbhav Venture Fund (ASVF), Premji Invest, DSP Group and HDFC Bank.