India's Largest Lender HDFC Bank Invests in Fintech Firm Sma

India's Largest Lender HDFC Bank Invests in Fintech Firm Smallcase, which lets Users Invest in Basket of Stocks


December 12, 2020 @ 6:57 pm By Omar Faridi
Smallcase, a Fintech firm that allows people to invest in a basket of stocks, has acquired an undisclosed amount of capital (as part of its Series B investment round) from HDFC Bank, an Indian banking and financial services company based in Mumbai. HDFC Bank (NSE: HDFCBANK) is notably India’s largest lender and the largest bank in the country in terms of market capitalization (as of March 2020).
Existing investors DSP Group, Sequoia Capital and Blume Ventures also took part in Smallcase’s round. Arkam Ventures and several angel investors made contributions as well.
Established in 2015 by Vasanth Kamath, Rohan Gupta and Anugrah Shrivastava, Smallcase lets people make investments in a portfolio of stocks or exchange-traded funds (ETFs). Additionally, there’s an option to create more customized investment portfolios. The portfolios may be sectoral (investing in several different industries), thematic (like impact investing or environmentally-friendly firms), large-cap stocks-focused or investments that provide exposure to different assets through ETFs.

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