HDFC Bank, India’s largest private sector bank, has invested an undisclosed amount in small case Technologies and bought a minority stake as part of a recent Series B fund-raise of $14 million by the Bengaluru-based fintech startup. Existing investors such as DSP Group, Sequoia Capital India, Blume Ventures, Beenext, and WEH Ventures also participated in the round. Arkam Ventures and angel backers also took part in the round.
The startup, founded in 2015 by Vasanth Kamath, Rohan Gupta, and Anugarh Shrivastava, operates in the capital markets infrastructure space and works with businesses to help individuals invest in simple and transparent products called small cases.
Created and managed by licensed research providers and advisors, small cases are model portfolios of stocks and ETFs (Exchange Traded Funds). With growing interest and participation in equity markets, small cases have seen a sharp increase in its investor base and amounts transacted over the last six months with its ecosystem approach. Its platform is integrated with brokers including Zerodha, HDFC Securities, Kotak Securities, 5Paisa, and Axis Direct.
In February 2019, the company raised $8 million in a Sequoia-led Series A funding round. Blume Ventures, Straddle Capital, Beenext, WEH Ventures, and DSP Adiko participated in that round.