In a recent financial feat, social investment platform StockGro has successfully raised Rs 205 crore in a debt funding round, with prominent investors Trifecta Ventures and Hindustan Media Ventures leading the charge. The funds were raised through two tranches: non-convertible debentures (NCDs) from Trifecta and optional convertible debentures (OCDs) from Hindustan Media.
Trifecta Ventures extended debt financing amounting to Rs 120 crore through the issuance of 1,200 NCDs, while Hindustan Media contributed Rs 85 crore through 8,708 OCDs, as per regulatory filings obtained from the RoC.
StockGro, founded in 2020 by former venture capitalist Ajay Lakhotia, operates as a fintech startup providing a social investment platform. The platform features an interactive virtual interface that educates users about stock markets and facilitates active participation in them.
According to regulatory filings, the newly acquired funds are earmarked for the expansion and growth of StockGro’s business, as well as meeting additional capital and financing requirements. The strategic move signifies a significant step forward for the company’s mission to empower users in social investment.
To date, StockGro has secured approximately $40 million in equity funding. The Series A round is notable among its funding rounds, which raised $32 million. This round was led by prominent investors such as Bitkraft Ventures, General Catalyst, and Itai Tsiddon, valuing the company at around $140 million.
While the financial statements for FY22 and FY23 are pending, StockGro reported an income of Rs 3.97 crore and a loss of Rs 2 crore in FY21. The startup’s focus on financial inclusion and education in the stock market domain has garnered attention from investors, leading to substantial funding support.
Hindustan Media Ventures, one of the key investors in this round, has a track record of strategic investments in various companies, including Oyo, MobiKwik, EazyDiner, Zappfresh, and Zvesta.
StockGro’s latest financial move underscores investors’ continued interest and confidence in the potential of social investment platforms and fintech startups, further solidifying the company’s position in the dynamic market landscape.
