StockGro, a social investment startup, has raised US$ five million in a pre-Series A round of funding. The round was led by Roots Ventures and Velo Partners. The company will use 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. StockGro is Asia’s first social investment platform with a gamified virtual interface that enables users to discover trading strategies, compete and interact with some of the country’s best minds. With more than one million User Base, StockGro has over 80 per cent month on month retention.
Ajay Lakhotia, Founder-StockGro said, “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 the millennials. Global investors aligned to our vision have come on-board to support us in democratising investments for the next generation.”
The platform allows 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.
Commenting on the fundraise, Japan Vyas, Roots Ventures said, “StockGro is gamifying stock investing and making it more social. These are compelling elements in one platform providing 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 in its growth journey.”