Online investment platform smallcase has raised $50 million in a Series D funding round led by Elev8 Venture Partners. 

The round also saw participation from State Street Global Advisors, Niveshaay AIF, Faering Capital, and Arkam Ventures. 

The latest funding will enable smallcase to add mutual funds, fixed income instruments, and other asset classes to its product lineup. The company also plans to enhance its technology and data analytics capabilities to offer more sophisticated investment tools. 

“India’s retail investing landscape is undergoing a seismic shift, and smallcase has been at the forefront of this transformation,” said Navin Honagudi, managing director and founding general partner at Elev8 Venture Partners. “Their ability to innovate, build trust, and scale in a highly competitive market makes them a standout player. smallcase fits our vision of backing companies that are not just growing fast but are also shaping industries."

Founded in 2016 by Vasanth Kamath, Rohan Gupta and Anugrah Shrivastava, smallcase provides users with a basket of stocks called ‘smallcases’, allowing them to invest in portfolios of broker-partner stocks and exchange-traded funds (ETFs) using their personal existing demat accounts. The company claims that it has facilitated transactions worth over Rs 1.2 lakh crore and has a user base exceeding 10 million investors.

“Smallcase’s vision has always been to build simple and transparent products that are relevant for every investor’s portfolio,” said Vasanth Kamath, co-founder and CEO of smallcase. “The opportunity to help millions of Indians design better financial futures is one of huge responsibility, and we will continue to deliver on it with honesty and integrity.” 

smallcase recently partnered with online brokerage platform Zerodha to launch an asset management company focused on index funds and ETFs.