Smallcase raises $40 million from Amazon, Premji Invest among others
Summary
CoFounder – Anugrah Shrivastava, said, “We are committed towards building a simple, transparent, and essential investing ecosystem for India.” The latest funds were raised at a valuation of $200 million, according to the startup. Smallcase was founded in July 2015 by three IIT Kharagpur alumni – Anugrah Shrivastava, Rohan Gupta, and Vasanth Kamath, as a platform to assist introduce a newer era of investors to the Indian stock markets. The company has an in-house workforce of certified specialists that offer over 100 stock and exchange-traded fund (ETF) portfolios, along with access to independent investment advisors, brokerages, and wealth channels to its customers. In addition to funding bus aggregator Shuttl, insurance company Acko, as well as fintech lender Capital Float in 2018, the e-commerce conglomerate has invested in D2C beauty brand MyGlamm and absorbed retail tech firm Perpule in 2021. Amazon also announced a $250 million investment fund earlier this year to back in Indian startups and entrepreneurs who really are dedicated to transforming small and medium-sized businesses in India.