The funding will help StockGro accelerate its hiring and launch new products. Here are the top-line bullets you need to know.
StockGro, an online trading platform, has raised $32M in a Series A. The round drew participation from Root Ventures, U1 Technologies, General Catalyst, BITKRAFT Esports Ventures, and LGVP Partners, among others.
HOW’S THE COMPANY PERFORMING?
- India-based StockGro enables users to get information on the stock market, learn trading strategies, and communicate with other traders and investors through the platform.
- As of January 2022, the company has doubled its user base to 10M from 5M in October 2021.
- StockGro’s platform has hosted 500+ events with 250+ partner institutions.
WHY DOES THE MARKET MATTER?
- The wealth management platform market is projected to reach a value of $7.2B by 2027, growing at a CAGR of 14.2%, according to The Insight Partners.
- Growing digital adoption due to the pandemic, an increase in first-time investors, and the rise of alternative investment platforms have contributed to industry growth.
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