This is one of the largest Series A rounds raised by a fintech start-up in India, raising the total funding commitments for the Bengaluru-based company to around USD 40 million.Ĭommenting on the funding, Bitcraft Ventures said, “The democratization of finance and investment is an important global topic that is redefining the culture and values of younger generations. StockGrow said it plans to use the funding amount to tap more markets, introduce new products and aggressively increase its recruitment across all operations. Ajay Lakhotia, Founder and CEO, StockGrow said, “The funding further strengthens the confidence of our investors in our vision to bring about this transformation.” “Having established a solid foundation, we aim to build a disciplined culture of business in India and help today’s digital generation invest in an informed and learned manner. The company said it has grown its user base from 5 million in October 2021 to 10 million by January 2022 in the last quarter. Fintech Startup is a social investment platform with an interactive virtual interface that enables users to learn about and participate in the stock markets. StockGrow was founded in 2020 by former Venture Capitalist Ajay Lakhotia. The company said participation from existing investors also includes a commitment to secondary financing for its initial backers, which will provide manifold returns on their past investments.
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