Smallcase (1), an Investment tech startup, is raising Series B funds in a mix of equity and preference shares. It has secured 99 crore INR from a cohort of investors as part of its current fundraising. BEENEXT, Sequoia Capital, DSP Asset Management Firm, Unitary Funds, and Milestone Trusteeship participated in the recent fundraising.
Other investors include Nakul Zaveri of Relativity Investment Advisors, Universal Trustees Private, QED Innovations Lab, Chanaya Value Creation, and Tanmay Bhat also participated in this round. Smallcase will utilize the latest infusions to fulfill its growth objectives and enhance its financial position.
The investment tech startup has allocated 55 equity shares at a face value of 10 INR and a premium of 96,295 INR per share. The Compulsory Convertible Preference Shares, CCPS for 4,961 Series B, and 5,266 for Series B1 with the face value of INR 50 and premium of INR 96,255 per share.
Investors of Smallcase
SCI Investments V of Sequoia has accumulated 2,336 CCPS and has a 20.71% stake in the company whereas, Milestone Trusteeship has pulled up ten equity shares and now has 1,132 CCPS for a 2.90% stake. BEENEXT has accumulated 1,090 preference shares and holds a 7.28% stake. On the other hand, Unitary Funds has plucked ten equity shares and 1,963 preference shares for a 5.01% stake in the company.
Chanakya Value Creation has selected five equity shares and a 211 preference share for a 0.55% stake. Nakul Zaveri has attained five equity and preference shares for a 0.3% stake in Smallcase. Simultaneously Tanmay Bhat has obtained ten preference shares for the same stake. On the other hand, QED Innovation Labs has accumulated 21 preference shares and five equity shares for a 0.07% stake. Universal Trustees Private has 156 preference shares and has increased its shareholding to 1.56%.
Vasanth Kamath, Rohan Gupta, and Anugrah Shrivastava founded the Bengaluru-based startup in 2016. The startup aims to provide users with a professionally built basket of stocks called ‘small cases’. It allows users to invest in portfolios of broker-partner stocks and exchange-traded funds (ETFs) via their existing demat accounts. The company works with HDFC Securities, AxisDirect, 5Paisa, and Edelweiss.