back Back

StockGro concludes $32m in Series A round

By Leandra Monteiro

January 20, 2022

  • BITKRAFT Ventures
  • FinTech
  • Fund Management

StockGroStockGro, India’s social investment platform, announced that it has concluded a $32 million Series A round. The round was led by marquee global investors including BITKRAFT Ventures, General Catalyst, and Itai Tsiddon (Co-founder of Lightricks – Unicorn in Israel), with participation from existing backers such as Roots Ventures, Creed Capital Asia. The above also included commitment for Secondary financing for its early backers which would lead to multi-fold returns on their previous investments.

A syndicate of Prominent angel investors which includes Base10 Capital Founders, Junglee Games founder Ankush Gera, Nazara Technologies founder Nitish Mittersain and Founding member of Robinhood also participated in this round. StockGro plans to use the funding to tap into more markets, introduce new product offerings and aggressively ramp up its hiring across all functions.

StockGro doubled its user base in the last quarter from 5 million in October to 10 million as of January 2022. “The above user base marks a significant milestone for our Company as it demonstrates strong conviction and love from our users for our platform,” commented Ajay Lakhotia, Founder, StockGro.

This is among the largest Series A rounds raised by FinTech start-ups in India, raising the total funding commitments for the Bengaluru-based company to about USD 40 million.

“Having set up a solid foundation, our aim is to build a disciplined culture of trading in India and help the digital generation of today to invest in an informed and learned manner. The funding further reinforces the faith of our investors in our vision of bringing this transformation,” said Ajay Lakhotia, Founder & CEO, StockGro.

Commenting on the fundraise, BITKRAFT Ventures said, “The democratization of finance and investment is an important global theme that is re-defining the culture and values of younger generations. Nowhere is this more clear than in India, where less than 2% of the population currently invests in the stock market. Gamification and competitions not only engage new and aspiring investors, but also drive superior educational outcomes with a “play & learn” product. StockGro has a unique opportunity to facilitate the transition of wealth into new asset classes, not just with stocks but also with its expansion into crypto and other assets, and we are proud to be working with Ajay on the front lines of this transformation.”

General Catalyst added, “We are very excited to be investing in StockGro and to partner with Ajay and his ambitious team. We were captivated by their vision to help educate Indian consumers on how to become better investors. StockGro empowers them to do so via engaging with a fun and interactive product. We are looking forward to seeing team StockGro scale their user base with the funds from this round in order to achieve their compelling vision.”

Previous Article

January 20, 2022

Broadway appoints Brad Small as Head of Product

Read More
Next Article

January 20, 2022

Tradeteq sets up new office in Dubai

Read More

IBSi Daily News Analysis

Indonesia payment

March 22, 2023


Cyber risks surge with Indonesia’s evolving payments landscape

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

March 20, 2023

3 financial companies helping Mongolia to embrace technology

Read More

March 17, 2023

Life.Money.You. selects Paperwork to power its financial wellness initiative

Read More

March 09, 2023

TS Imagine introduces RiskSmart X, a cross-asset class real-time risk platform

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q4 2022

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q4 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q4 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q4 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2022