Other investors that participated in the current round include Magic Fund, Side Door Ventures, Dragon Capital, Emles Ventures, Grand Park Ventures, Chandaria Capital, Cleo Capital, AngelList, West Quad, and Olive Tree Capital. Angel investors such as Paul Desmarais III of Portage Ventures, Tanuj Shori of Squareyards and Inmad Akhund of Mercury Bank also took part in Stack’s recent round.
“Everyday investors are stuck with friends’ advice and archaic platform experiences without even realizing it. Stack sets out to finally give the best investing experience to everyone, with a transparent approach while educating our users on how to make their money work instead of being a black box.” said Smriti Tomar, cofounder and CEO at Stack. “Currently all the services provided are free but we plan to monetise our platform from advanced investing strategies and tools at a nominal cost, thereby democratising wealth advisory for all,” Tomar added.
The Bengaluru-based fintech has also recently launched its investment app on the Playstore. The app provides customised investing solutions to the users.
“India needs a makeover to drive down the cost and minima of investing. Stack enables risk-free smart investments and aims to bring a revolution like Vanguard did in the US,” Tushar Vyas, cofounder said.
Founded in 2021 by Tomar and Vyas along with founding team Vidit Varshney and Yashwarshan Puranik, Stack is bringing investing on autopilot experience for everyday retail investors. The startup would be using the fresh funds to expand the current team and enable more features to help users grow their money better.
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“We believe that India with its young and millennial-led population is witnessing a rapid shift towards a financial assets focused investment strategy. With over 700 million active mobile internet users who are transacting on various platforms, there is a large market available for distribution of new-age financial products. Stack is building a mobile-first platform that makes goal-based investing a seamless and intuitive process for India’s many first-time investors,” said Earlsfield Capital’s junior partner Aakash Agrawal.
Stack builds tailored investment strategies with globally diversified portfolios for everyday investors according to their risk appetite and goals.
The pandemic (Covid19) has accelerated financial awareness in India leading to all-time high growth in Demat accounts with over 10 million account additions in 2021 alone. Despite this growth, 75% of these accounts have little to no activities due to conservative investing attitude and lack of understanding of the equity markets. Equity market participation in India is still stagnated at 3.7%. Compared to this, China is at 12.7% and the US at 56%. Stack aims to increase participation of Indians into equity markets by using smart automation to make investing simple and easy for everyone, the company said.
