Private Equity Fund Investments
Wealth mgmt co Smallcase raises $40-M from Faering Capital, Amazon, others
Bengaluru-based wealth management company Smallcase has raised USD 40 million in its Series C round led by Faering Capital with participation from new investors Amazon and Premji Invest. Existing backers including Sequoia Capital, Blume Ventures, Beenext, DSP Group, Arkam Ventures, WEH Ventures and HDFC Bank also participated in the round. Smallcase will utilise the fresh proceeds to expand investment products, grow its technology platform and further build its distribution network. The funds were raised reportedly at a valuation of USD 200 million. The startup was valued at around USD 52 million after a small tranche by HDFC Bank in December 2020.
From the Venture Intelligence PE-VC Deal Database: Between Dec-15 and Sep-20, Smallcase raised nearly $24-M from HDFC Bank, WEH Ventures, Arkam Ventures, Beenext, Blume Ventures, Sequoia Capital India, Rainmatter Capital and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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