PremiumBENGALURU: Stock market research platforms, StockEdge and Elearnmarkets, operated by Kredent InfoEdge Private Limited (KIPL), on Tuesday said that they have cumulatively raised $1.2 million from Kotak Securities Limited, as it looks to expand their product capabilities and brand awareness.
This funding was led by Kotak Securities Limited (KSL) as a part of its recently launched startup investment and engagement programme.
Ernst & Young (EY) acted as the exclusive financial advisor and Cyril Amarchand Mangaldas (CAM) acted as the exclusive legal advisor to KIPL.
With a keen focus on learning via analytics, StockEdge will be using the said funds to further develop their product and drive their marketing efforts across multiple marketing platforms to bring forth value-based and accessible education to all.
“We are excited to have Kotak Securities on board as one of our investors. We share a common philosophy of empowering retail investors through the right 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’," said Vivek Bajaj, co-founder and director, StockEdge and Elearnmarkets. ,
The company also plans to leverage the raised amount to scale up its e-learning interface and fine-tune their technology offerings. This will further benefit all users, irrespective of their existing stock market and financial knowledge and experience.
“KIPL through its brands Elearnmarkets.com and StockEdge has created significant value-added technology and offers a bouquet of e-learning solutions for stock market users, be it first-time investors or seasoned traders. KIPL has evolved as a promising brand and is well-positioned to create a niche ecosystem in the capital markets in India," said Jaideep Hansraj, managing director and chief operating officer of Kotak Securities.
Co-founded in 2016 by Vineet Patawari, Vinay Pagaria the company had earlier raised seed capital from ace investors like Ramesh Damani, Dinesh Agarwal (founder of Indiamart), Ajay Sharma.
Further to this funding, StockEdge and Elearnmarkets are also looking to raise their Series A funding to create a niche ecosystem in the capital markets of India.
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