Tuesday, September 21, 2021

[Funding alert] Social investment startup StockGro raises $5M in pre-Series A round

StockGro, a Bengaluru-based social funding startup, has raised $5 million in a pre-Sequence A spherical of funding. The spherical was led by Roots Ventures and Velo Companions. The corporate will use the funding to develop its person base, rent tech expertise, and construct new options.

StockGro was based in January 2020 by Ajay Lakhotia, former enterprise capitalist, with an goal to assist individuals be taught and take part in inventory markets.

With a gamified digital interface, the startup permits customers to find buying and selling methods, compete and work together with among the nation’s greatest minds. With a person base of a couple of million, StockGro has over 80 p.c month-on-month retention.

Ajay Lakhotia, Founder, StockGro mentioned, 

“Our tradition, our schooling system teaches us how to economize however nobody teaches us the way to make investments cash. At StockGro, we’re on a mission to make millennials funding prepared. With over a million lively customers on the platform inside 9 months of launch, StockGro has turn into the first social funding platform for millennials. World traders aligned to our imaginative and prescient have come on board to assist us in democratising investments for the subsequent technology.”

Ajay Lakhotia, Founder, StockGro

Beginning investing journeys

The platform claims to permit bizarre people to provoke their funding journey with out taking any danger and get rewarded for constructing the perfect funding portfolios. Greatest performing merchants and traders win award cash gaining followers and turn into widespread socialising their funding methods and thesis.

StockGro now has main fund managers, F&O merchants, and algo merchants driving their social teams, serving to customers be taught numerous buying and selling methods and check their thesis on StockGro platform.

Japan Vyas, Roots Ventures, mentioned, 

“StockGro is gamifying inventory investing and making it extra social. These are compelling components in a single platform, offering academic interface to aspiring traders and merchants, super trade of concepts and data amongst contributors, and on the entire democratising investing and buying and selling. We stay up for working with Ajay and the workforce.”

Andrew Reader, of Velo Companions, added, “Encouraging schooling and engagement with the youthful technology round investing within the inventory market is important. With lower than 10 p.c of millennials actively investing in inventory markets, StockGro is standing on the junction of rising the TAM of lively traders. Ajay brings the fitting expertise, data, community, and keenness to unlock this multibillion-dollar potential market.”

Earlier in December 2020, StockGro raised round $1 million in an angel spherical of funding from Unicorn founders, together with Kunal Shah of Cred, Vivekananda Hallekere of Bounce, Rahul Garg of Moglix, Ramakant Sharma of Livspace, distinguished fund managers, and household workplaces, together with Creed Capital, Luminaire Capital, and Mark V Capital. Falcon Edge Companions is among the many distinguished traders in StockGro.

Within the final 9 months, StockGro has turn into the first platform throughout the colleges and faculties to be taught buying and selling and funding.

Not too long ago, StockGro partnered with NIRC, the Northern India Regional Council of ICAI, to launch unique StockGro leagues for CA college students and professionals. The partnership was geared toward serving to over six lakh college students and one lakh professionals be taught the nuances of inventory market.

Edited by Teja Lele Desai

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