Pavan Teja
Just a few years back stock market was a very strange thing for everyone. Everyone had heard about the name Stock Market but very few investors were there in India at that time. Many people even feared that it is a very dangerous thing to get into. Most of the population’s perception was “Stock Market could make you a millionaire at the same time it could wipe out all your wealth within seconds”.
However, in the last few years technology has changed everything from the way we communicate to the way we invest in the Stock market. Many Fintech companies like Zerodha, Upstox, and more have simplified Invested. Similarly, Zerodha Based Smallcase has further simplified the investing for Indian Investors. With its continuous efforts and growth now, it has received hefty investment from the Global eCommerce giant Amazon.
Smallcase was founded by 3 IIT Kharagpur graduates in July 2015. The platform offers its services to nearly 3 million users as of now in India. It features licensed professionals who offer more than 100 portfolios of stocks for its investors. Where investors choose to invest in a specific portfolio of stocks. Portfolios consist of a group of stocks and exchange-traded funds. You can invest in both lump sum or choose to do monthly SIPs.
The platform has made investing in stock very easy for everyone. Even without having any prior knowledge, you can directly invest in stock or portfolios that consist of a group of stocks. It’s licensed professional takes care of all the smallcases. Which they manage, analyze, and evaluate for a particular period. Along with that, guarantee on returns, healthy portfolios, and offers corrections too from time to time.
You can invest in these stocks within just 3 clicks. Whereas Amazon has been very keen on investing in Indian startups. It has already entered the financial services and insurance markets of India. Now with this, hefty investment, Amazon acquired a greater grip on the Indian Fintech sector.
Since the first year of Smallcase, Amazon has been paying attention to its growth and strategies. Over the past two years, Smallcase has been growing at a rapid rate in terms of its user base and its functionality, and influence on Demat acc providers. Smallcase has quickly gone from one broker to 12 brokers right now. It covers 5% Demat accounts to 95% of Demat accounts in the Indian market. Along with that, the users base has seen a massive spike in recent years.
This is the first investment of Amazon in the wealth management sector. The fundraising round was led by Faering Captial with the participation of Amazon Smbhav Venture Fund (ASVF) and Premji Invest. In the Series C round, Amazon has invested close to $5 million as a part of this fundraiser.
However, what kind of changes this new partnership will bring is still unknown. It is too early to make any assumptions about the developments. Amazon proves its interest to enter the financial market with its investment in this Fintech Smallcase. The eCommerce giant sees the Smallcase as a new differentiated way for Indian consumers to invest in the Stock market.
GIPHY App Key not set. Please check settings