New York-based fintech startup Stockal, which makes global investments for Indians possible, has announced that it raised USD 3 Million in pre-series A round on 07 May 2021. The funding round was led by Aroa Ventures with the participation of Cadenza Capital Management, July Ventures, Kristal.ai, Tracxn Labs and Credence Family Office.
After this fresh funding, the valuation of the company has reached USD 5 Million. Stockal will use the funding amount to boost its growth into new markets, and they will start from Indonesia in SE Asia.
“We founded Stockal to open the best global capital markets to all global investors, enabling anyone to participate in investment opportunities anywhere in the world. This allows retail investors to access the full range of high-calibre companies, funds, and other interesting assets on a seamless and affordable fractional investing platform,” – Sitashwa Srivastava, Co-founder and Co-CEO of Stockal.
About the company-
Stockal was founded and established in 2016 by Rajan K Natarajan, Sitashwa Srivastava, and Vinay Bharathwaj. It has its headquarters in New York and its Indian office in Bangalore.
The company aims to help the people of India to have a stake in various assets in foreign country’s markets- including shares, hedge funds, and exchange-traded funds (ETF).
This step has shown a route to the retail investors to invest in big companies, with a low fractional ownership rate of USD 10. Since last year, the company has attracted over 60K customers from India. The users are trading the assets worth nearly a half-billion dollars and accumulating around USD 100 million AUM.
Till now, the company has been in four funding rounds in which there were two seed rounds and two angel rounds. In its last seed funding round, Stockal raised USD 1.8 Million, led by SuSEED Venture Partners.
Words from the founder –
“At Stockal, we are working towards our mission of democratising global investing. Geographical boundaries should not be a constraint when you are looking at investing and participating in the global economy. With this strategic fund infusion, we will be able to expand to multiple new capital markets and offer unique and diversified asset classes to our customers,” – Vinay Bharathwaj, Co-founder and Co-CEO of Stockal.
“While we have established our presence in India significantly and currently manage over $100 million, we aim to capture a huge potential growth market of about $800 billion which includes MENA and SE Asia. These new funds will help us enhance the platform as we build for a wider audience,” – he added.
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