StockGro, a social investment firm, has raised $32 million in its Series A round

• ByStartupStory     |    January 20, 2022

StockGro announced on Thursday that it has completed a USD 32 million Series A investment round. Bitcraft Ventures, General Catalyst, and Itai Tsidon (co-founder of Israel-based Lightrix) led the investment round, which also included current backers Roots Ventures, Creed Capital Asia, and other angel investors. Ankush Gera, the founder of Junglee Games, Nitish Mittarsen, the founder of Nazara Technologies, and a founding member of Robinhood are among them.

Existing investors’ participation includes a commitment to secondary financing for the business’s founding backers, which will deliver multiple returns on their previous investments, according to the company.

Ajay Lakhotia, a former venture capitalist, created StockGrow in 2020. Fintech Startup is a social investment platform that allows individuals to learn about and engage in the stock market through an interactive virtual interface. In the last quarter, the corporation reported it increased its user base from 5 million in October 2021 to 10 million in January 2022.

StockGrow intends to utilise the funds to expand into new areas, develop new products, and aggressively hire across all of its activities, according to the company.This is one of the largest Series A rounds ever raised by a fintech startup in India, bringing the Bengaluru-based company’s total financial commitments to roughly USD 40 million.

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