Fintech firm smallcase has invested $5 million (around Rs 37 crore) in the web and mobile investment information and research platform Tickertape, the company said in a statement.
Tickertape said that it will utilise the seed funding to build India's largest collaborative social platform focused on investments and personal finance.
Earlier, Tickertape used to be a business vertical of smallcase and has been carved-out into a separate corporate entity as of November 1, 2021.
"The current tools and resources available to retail investors to understand and manage their finances are fragmented. The need of the hour is to build a comprehensive ecosystem focusing on contextual learning, analysis, and execution,” said Ujwal Ankur who will be taking over as Tickertape’s Founder and CEO.
Tickertape claims that it has around 120 million monthly interactions with 3 million monthly active users, 4.5 million app downloads and over 120K paying members.
Founded by Rohan Gupta, Anugarh Shrivastava and Vasanth Kamath in 2015, smallcase is building a platform for direct indexing and model portfolios of stocks and ETFs known as 'smallcases'.
smallcase works with brokerages and investment advisers to offer ‘smallcases’, which are portfolios of stocks or exchange-traded funds. Their platform is integrated with brokers including Zerodha, HDFC Securities, Kotak Securities, 5Paisa and Axis Direct.
In August, smallcase raised $40 million (around Rs 297 crores) as part of its Series C funding led by Faering Capital and joined by new investors Amazon and Premji Invest at a valuation of around $200 million (over Rs 1,486 crore ).
Last year, smallcase raised $14 million (about Rs 103 crore) in a Series B fundraising round led by asset management group DSP.