India’s largest model portfolio platform, smallcase, has raised $50 million in its Series D funding round, marking a significant milestone in its growth journey. The round included a mix of primary and secondary investments and was led by Elev8 Venture Partners, with participation from both new and existing investors such as State Street Global Advisors, Niveshaay AIF, Faering Capital, and Arkam Ventures.
Founded in 2016, smallcase provides a platform that allows individuals to invest in model portfolios of stocks and ETFs—referred to as “smallcases”—with a focus on transparency, simplicity, and long-term wealth creation. The platform has facilitated transactions worth over ₹1.2 lakh crore since its inception, positioning itself as a key player in India’s retail investment landscape.
The fresh capital will be deployed to expand smallcase’s investment offerings across various asset classes and deepen its engagement with retail investors and ecosystem partners. In 2023, smallcase extended its product layer by launching an asset management company in a joint venture with Zerodha to introduce index funds and ETFs.
Vasanth Kamath, Co-founder and CEO of smallcase, said the company has always aimed to build “simple and transparent products” that resonate with every investor. He expressed gratitude to the investors for their continued trust and emphasized the company’s commitment to helping millions of Indians shape a better financial future.
Anugrah Shrivastava, Co-founder, highlighted the company’s recent strides in innovation, including scaling its platform to new use-cases like secured credit. He said the team is now focused on expanding smallcase’s reach into mutual funds, fixed income instruments, and new tools that help users optimize their wealth and net worth.
Investors echoed their confidence in smallcase’s vision and execution. Elev8’s Managing Director Navin Honagudi said smallcase has built a world-class platform and continues to innovate to scale its offerings. Faering Capital noted a tenfold increase in smallcase’s assets under management and revenues since its initial investment, while Arkam Ventures praised the company’s product innovation and focus on making sophisticated investment products accessible to the masses.
Other notable investors backing smallcase include Peak XV Partners (formerly Sequoia Capital India), Blume Ventures, Amazon Smbhav Venture Fund (ASVF), Premji Invest, DSP Group, and HDFC Bank.
With this latest funding round, smallcase aims to further consolidate its position in the Indian wealth-tech space and bring a broader array of investment options to the country’s growing base of retail investors.
