The funding was secured keeping in mind the rising need for financial awareness among first-time investors
Kredent InfoEdge Private Limited (KIPL), operating the brands StockEdge and Elearnmarkets, raised growth capital INR 10 Crores from Kotak Securities Limited to expand their production capabilities and increase the user reach. This is the first funding transaction undertaken by Kotak Securities Limited (KSL) as a part of its recently launched Start-Up Investment and Engagement Programme.
The funding was secured keeping in mind the rising need for financial awareness among first-time investors. The company plans to leverage the funds raised to scale up its e-learning and analytics offerings and upgrade its data and technology.
The company currently serves over 2 million users and is looking to scale the user base to 10 million. Kotak’s investment and strategic value will fast-track this journey. The company aspires to create an ecosystem that can serve an investor’s complete journey from learning (through e-learnmarkets), research and data analytics (through StockEdge), collaboration (through StockEdge social), and transaction. It is planning to launch its social investing platform along with a transaction engine that will host multiple intermediaries.
Elearnmarkets is the largest financial education platform in India with over 1 million learners and more than 200 market experts hosting finance courses in multiple languages. StockEdge is one of the largest stock analytics platforms in India with over 1 million active users.
Vivek Bajaj, Co-Founder & Director, StockEdge & Elearnmarkets said, “We are excited to have Kotak Securities onboard as one of our investors. We share a common philosophy of empowering retail investors through a thorough knowledge. As financial markets in India expand to real Bharat, we are perfectly positioned to cater to the overall needs of the ‘New Indian Investor’”.
Cofounded by Vivek Bajaj, Vineet Patawari, and Vinay Pagaria, the company had earlier raised capital from investors like Ramesh Damani, IndiaMart founder Shri Dinesh Agarwal, and others. A fintech-focused VC firm Samyakth Capital, an existing investor also participated in the current round. All three co-founders have Chartered Accountants and two of them did their MBA from IIM Indore.
Further to this funding, StockEdge and Elearnmarkets.com will look to raise Series A funding within 12-15 months to create a niche ecosystem in the capital markets of India. Ernst & Young (EY) acted as the exclusive financial advisor and Cyril Amarchand Mangaldas (CAM) acted as the exclusive legal advisor to KIPL. The company has been co-founded by Vivek Bajaj, Vineet Patawari, and Vinay Pagaria.
Source: Business World
