India’s CRED to invest in smallcase

94 views 7:24 am 0 Comments February 19, 2022

Indian CRED talks backing the Bengaluru-headquartered startup Smallcase.

The India’s CRED proposed investment in Smallcase values the startup in the range of $300 million to $400 million, a source said. The size of the investment is unclear, the source cautioned and like others requested anonymity as the deliberations are ongoing, at an early and private stage.

The Smallcase operates a platform to help a new generation of investors participate in the Indian equity markets.

The startup, which counts Amazon, Sequoia Capital India, Blume Ventures and Arkam Ventures among its existing investors, serves over 3 million users and connects them to an in-house team of licensed professionals who offer more than 100 portfolios of stocks and exchange-traded funds as well as access to independent investment managers, brokerages and wealth platforms. It works with a number of stock broker services including Kite and Upstox.

An investment in Smallcase will allow CRED to broaden its wealth management offering. The startup, founded by Kunal Shah, has three marquee offerings. It rewards users for paying their credit card bill on time to help them improve their financial behavior. It also helps them pay and track their rent, education and several other bills. Its third offering is wealth management.

CRED launched a peer-to-peer lending service called Mint, that offers its customers inflation-beating investment opportunity last year.

If the deal materializes, it will be the latest of a series of investments by CRED in recent quarters.

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