Exclusive: StockGro raises Rs 205 Cr debt from Trifecta and Hindustan Media

Social investment platform StockGro has raised Rs 205 crore in a debt round from Trifecta Ventures and Hindustan Media Ventures in two separate tranches. While Trifecta has put debt funding through non-convertible debentures (NCDs), Hindustan Media invested Rs 85 crore in the form of optional convertible debentures (OCDs).

The company raised Rs 120 crore in debt from Trifecta Ventures by issuing 1,200 NCDs whereas it issued 8,708 OCDs to Hindustan Venture to raise Rs 85 crore, its separate regulatory filings sourced from the RoC show.

Stockgro will use these funds for the expansion and growth of the business and to meet the additional capital/financing requirements, as per filings.

Founded in 2020 by former venture capitalist Ajay Lakhotia, the fintech startup is a social investment platform with an interactive virtual interface that enables users to learn about and participate in stock markets.

The company has raised around $40 million in equity funding to date which includes its Series A round of $32 million led by Bitkraft Ventures, General Catalyst and Itai Tsiddon where the company was valued at around $140 million.

According to the startup data intelligence platform TheKredible, Bitkraft STG Limited is the largest external shareholder with 11.08% followed by Qlt Technology and Roots Ventures. Its founder and chief executive officer Ajay Lakhotia commands a significant 27.18% holding.

While the company is yet to file its financial statements for FY22 and FY23, it posted Rs 3.97 crore income and Rs 2 crore loss in FY21.

In the past, Hindustan Media Ventures has also invested in Oyo, MobiKwik, EazyDiner, Zappfresh, and Zvesta, among others.