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Smallcase raises $14 Mn Series B round led by DSP Group


Investment startup Smallcase has secured $14 million ~ Rs 99 crore in its Series B funding round led by DSP Group. Existing backers Sequoia Capital India, Blume Ventures, Beenext and WEH Ventures also participated in the round along with Arkam Ventures, Utpal Sheth and Kunal Shah.

Smallcase would utilize the fresh proceeds to continue enhancing the smallcases infrastructure stack, add more investment products, and partners to the platform and expand its technology and product team, said the company in a press statement.  

DSP Group has infused Rs 32.7 crore collectively, followed by Sequoia Capital India Investments pouring in Rs 22.4 crore, shows regulatory filings. Unitary Funds invested Rs 18.9 crore, while Blume Ventures and WEH Ventures infused Rs 23.7 crore collectively. Chanakya Value Creation, Nakul Zaveri, QED Innovations, and Tanmay Arun Bhati made a total investment of Rs 2.5 crore in the round. 

The Bengaluru-based company has made an allotment of 55 equity, 4,961 Series B, and 5,266 Series B1 CCPS for Rs 96,305 per share to raise the above-mentioned amount.

The Series B round for Smallcase has come after a year and a half. In February 2019, it had picked up $8 million in a Series A round led by Sequoia India. 

The four-year-old startup, founded by Vasanth Kamath, Anugrah Shrivastava, and Rohan Gupta, lets retail investors choose from a number of themed portfolios having stocks and exchange-traded funds (EFTs) in a proportion that creates the highest return on investment. 

At present, the platform claims to have witnessed 8X growth in the investor base in the last two years to 1.5 million having transacted a total amount of over Rs 5000 crore along. Currently, it has 9 broking partners including AxisDirect, Zerodha, HDFC Securities, 5Paisa, and Edelweiss.

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