smallcase raises $40M in Series C Round to scale portfolio investing ecosystem

BENGALURU, 18 August 2021: smallcase, a leading capital markets-focused fintech company, today announced it has raised $40M in a Series C round led by Faering Capital with participation from  new investors Amazon Smbhav Venture Fund (ASVF) & Premji Invest. The round also saw participation from existing investors including Sequoia Capital India, Blume Ventures, Beenext, DSP Group, Arkam Ventures, WEH Ventures, HDFC Bank Group and Utpal Sheth (CEO, Rare Enterprises). The round brings the total capital raised by smallcase to over $60M. With the close of the transaction, Sameer Shroff – co-founder & Managing Director at Faering Capital – will be joining the board of the company.

smallcase has built India’s leading and fastest-growing platform for direct indexing and curated portfolios of stocks and ETFs called smallcases, where it works with capital markets participants, (including brokerages, advisors, investment managers and wealth platforms) to create and distribute these simple and transparent products. The brand has orchestrated an ecosystem of 250+ businesses offering smallcases including India’s largest and fastest growing financial institutions.

Since smallcase’s Series B raise in September 2020, its user base has doubled to over 3 million and the volumes transacted in smallcases have grown 2.5x to INR 12,500 crores. The suite of platforms and tools has continued to see widespread adoption by the industry including deep custom integrations with 12 leading brokerages, the Publisher platform (a business-in-a-box solution for research analysts and advisors) serving 125+ established and emerging investment managers and the Gateway API being leveraged by 50+ digital wealth and distribution platforms. The capital raised will be used to continue launching better investment products for the retail investor and to create additional value for smallcase’s partners by growing the ecosystem and enhancing the platform and its capabilities. 

“The last 2 years have seen remarkable interest from Indian retail investors in the equity markets, and we are inspired to see smallcases become the primary gateway to stocks and ETFs for millions of new investors. We are focused on expanding our offerings to cement our position as the premier portfolio layer across asset classes for the retail investor”, said Vasanth Kamath, founder & CEO at smallcase.

“In 2020, we launched new features and tools to unlock access to smallcases through multiple new channels and now in 2021, we are working to scale our platform and technology to make smallcases more valuable for both investors and our partners. We are committed towards building a simple, transparent and essential investing ecosystem for India”, said Anugrah Shrivastava, founder at smallcase

Investor Quotes 

“Globally, we have seen a trend of increased retail participation in equity markets and in India smallcase is pioneering digital access for retail investors through their innovative products and channel partnerships.  We are excited to lead the series C round and partner with Vasanth, Anugrah, Rohan, and the entire smallcase team for their next phase of innovation and growth”,  said Sameer Shroff, co-founder and Managing Director at Faering Capital

In April this year, we launched a $250MM Amazon Smbhav Venture Fund (ASVF) to invest in early stage tech start-ups. As part of this Fund, we are excited to partner with smallcase in their journey to offer innovative consumer investment products. By increasing product selection and convenience, this will provide an additional channel for consumers to participate in the equity markets”, said a spokesperson for Amazon

About smallcase

smallcase is a financial technology company building a platform for direct indexing & curated portfolios of stocks & ETFs known as smallcases. In the last 5 years, smallcase has developed an ecosystem of 250+ businesses in the capital markets space including India’s largest and fastest growing financial institutions and brands who leverage the smallcases platform and technology. Over 3 million investors use smallcase products and apps every month. smallcase is headquartered in Bangalore with an employee base of over 200 across product, engineering, business and growth functions