Investment Platform Trackk Raises $3.7 Mn To Strengthen Broking Infra
Superadmin
Investment and stock broking platform Trackk has secured $3.7 Mn (about ₹35.7 Cr) in a seed funding round led by Lightspeed, with participation from Info Edge Ventures.
Angel investors such as Tanmay Bhatt, Varun Mayya, Unacademy cofounders Gaurav Munjal and Roman Saini, and television actor Gaurav Kapoor also participated in the round.
The startup plans to use the capital to strengthen its broking infrastructure, expand product capabilities, accelerate user acquisition, build new financial products, and for hiring.
Founded in 2021 by Vedant Gupte, Siddharth Thakkar, and Aryan Jain, Trackk claims to be an investment platform built for Gen Z. It claims to help users simplify the investment process via AI-led stock discovery, personalising their investment journey and providing easier execution tools for more accessible experience of trading for first-time investors.
The startup offers stock broking, futures and options trading, IPO investing, and portfolio tracking and portfolio rebalancing tools.
“With Trackk, we are building a platform that simplifies participation in financial markets for young Indians while making the overall investing journey far more intuitive and accessible,” Gupte said.
Trackk claims it has seen strong adoption among younger investors, with almost 90% of its users belonging to the 20-24 age group.
The startup competes with giants like Groww, Zerodha, Angel One in the stock broking space.
With rising financial awareness, startups operating in the stock broking and the broader wealth management segments are seeing rising adoption.
Betting on this opportunity, Dream 11’s parent Dream Sports recently launched stock broking platform ‘Dream Street’. Earlier this month, PB Fintech’s subsidiary PB Marketing and Consulting received a stock broking licence for offering services on NSE’s debt segment.
Meanwhile, investors are also actively backing startups in the segment despite SEBI’s clampdown on F&O and the pressure on the Indian equities market in recent months. Trading platform Sahi raised $33 Mn last month in a round led by Accel, with participation from Elevation Capital.
The post Investment Platform Trackk Raises $3.7 Mn To Strengthen Broking Infra appeared first on Inc42 Media.
