StockGro, an India-based digital trading platform empowering and equipping individuals to commence trading, has bagged US$ 5 million in a pre-Series A funding round co-led by Roots Ventures and Velo Partners on 3 August 2020.
Investors: The latest investment round featured Roots Ventures and Velo Partners as the lead investors. The startup has successfully raised, in total, US$ 6 million to date.
Purpose of the funding: The firm seeks to deploy the proceeds from the funding round towards widening its target users, recruiting fresh talent in the technology department, and introducing new attributes to its product.
Brought to existence in 2020 by Ajay Lakhotia, StockGro delivers a virtual investment platform to its clients, enabling them to comprehend different trading tactics, enter a competition, and learn from the leading trading professionals. The investment platform allows its users to initiate investment in the absence of risks. It also rewards the top-performing strategies of traders, and these individuals become famous for their tactics by gaining massive followers. The learning resources available on the startup’s platform are updated by top fund professionals, managers, and traders to enhance clients’ trading knowledge and strategies. Catering to over a million people, StockGro manages to retain around 80 per cent of its users monthly.
What the Founder has to say: “Our customs and education framework focuses more on imparting knowledge related to saving money, not investing it. However, StockGro envisages changing this trend and making people investment-ready. StockGro has captured a significant share of the market in a short period. We are happy to receive support from the investors who reflect our approach of liberating investments in the future.”- Ajay Lakhotia, Founder of StockGro.
What the Investors have to say: “StockGro is democratising and socialising investments and trade. Offering a learning feature to ambitious traders, discussion of new strategies and techniques between social groups are some of the most intriguing attributes of the platform. We are excited to support StockGro in its growth journey.”- Japan Vyas, Managing Partner at Roots Ventures. “With only one-tenth of the young populace being actively involved in trading, StockGro is best-positioned to develop and train a new generation of proficient investors. Ajay’s experience, knowledge, fascination, and network in the field is the game-changer. It opens up new growth paths for the firm in a highly profitable domain.”- Andrew Reader, Director of Velo Partners.
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