Bengaluru based Stack raises $4.5 million in Seed Round of Funding
- ByTejika Bajaj | December 17, 2021
Bengaluru based automated investing app Stack recently announced that it has raised a consolidated sum of $4.5 million through its seed round of funding led by global marquee investors such as Y Combinator, Harvard Management, Goodwater Capital, Soma Capital, Uncommon Capital and Earlsfield Capital.
The round also witnessed participation from Magic Fund, Side Door Ventures, Dragon Capital, Emles Ventures, Grand Park Ventures, Chandaria Capital, Cleo Capital, AngelList, West Quad, and Olive Tree Capital. Angel investors such as Paul Desmarais III of Portage Ventures, Tanuj Shori of Squareyards and Inmad Akhund of Mercury Bank also took part in Stack’s recent round.
The new age startup is likely to utilize the freshly infused funds to expand its current team as well as enable a few additional features to help its users grow their money in a better manner. This announcement comes at the backdrop of a rise in the growth of fintech startups post the pandemic.
Talking about the recent round of fundraise, the Junior Partner at Earlsfield Capital’s, Aakash Agarwal said, “We believe that India with its young and millennial-led population is witnessing a rapid shift towards a financial assets focused investment strategy. With over 700 million active mobile internet users who are transacting on various platforms, there is a large market available for distribution of new-age financial products. Stack is building a mobile-first platform that makes goal-based investing a seamless and intuitive process for India’s many first-time investors.”
Founded in 2021 by Tomar and Vyas along with founding team Vidit Varshney and Yashwarshan Puranik, Stack is bringing investing on autopilot experience for everyday retail investors. Stack builds tailored investment strategies with globally diversified portfolios for everyday investors according to their risk appetite and goals. The Bengaluru-based fintech has also recently launched its investment app on the Playstore which provides customised investing solutions to the users.
Follow Startup Story
Related Posts
