Social Investment Startup StockGro Raises $5M Funding In Pre-Series A Round
- ByStartupStory | August 4, 2021
StockGro, a Bengaluru-based social investment startup, has raised $5 million in a pre-Series A round of funding. The round was led by Roots Ventures and Velo Partners. The company will deploy the funding to grow its user base, hire tech talent, and build new features. StockGro was founded in January 2020 by Ajay Lakhotia, former venture capitalist, with an aim to help people learn and participate in stock markets. Speaking on the announcement, Ajay Lakhotia, Founder, StockGro, commented, “Our culture, our education system teaches us how to save money but no one teaches us how to invest money. At StockGro, we are on a mission to make millennials investment ready. With over one million active users on the platform within nine months of launch, StockGro has become the primary social investment platform for millennials. Global investors aligned to our vision have come on board to support us in democratising investments for the next generation.”
The platform claims to allow ordinary individuals to initiate their investment journey without taking any risk and get rewarded for building the best investment portfolios. Best performing traders and investors win award money gaining followers and become popular socialising their investment strategies and thesis. StockGro now has leading fund managers, F&O traders, and algo traders driving their social groups, helping users learn various trading strategies and test their thesis on StockGro platform. Japan Vyas, Roots Ventures, said, “StockGro is gamifying stock investing and making it more social. These are compelling elements in one platform, providing an educational interface to aspiring investors and traders, tremendous exchange of ideas and information amongst participants, and on the whole democratising investing and trading. We look forward to working with Ajay and the team.”
Andrew Reader, of Velo Partners, added, “Encouraging education and engagement with the younger generation around investing in the stock market is essential. With less than 10 percent of millennials actively investing in stock markets, StockGro is standing at the junction of growing the TAM of active investors. Ajay brings the right experience, knowledge, network, and passion to unlock this multibillion-dollar potential market.” StockGro has become the primary platform across the schools and colleges to learn trading and investment.
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