Brokerages on a song with rising retail participation
February 19, 2021
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From offering global stocks to facilitating AI-enabled services, stock brokers adapt to keep new investors in the market
The Covid-19 pandemic brought every industry to its kneesin 2020, but one segment that not just beat the fever but was strongly up on its feet was brokerage. ICRA expects the broking industry to clock a record income of ₹27,500-28,500 crore in FY2021, registering 30-35 per cent growth (₹21,000 crore in FY2020) and beating the rating agency’s earlier estimate of ₹23,000 crore.
Active retail participation
One key reason for the stellar comeback of the broking industry is the huge participation of retail investors. Contrary to the expectation, new investors entered the stock market during the lockdown in their droves.
[Funding alert] Online investment platform Vested Finance raises $3.6M in seed round
The company said it plans to use the funding to accelerate product development and hire talent across the US and India.
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Silicon Valley-based online investment platform
Vested Finance on Friday announced it has raised $3.6 million in seed funding with participation from Moving Capital, Ovo Fund, and TenOneTen Ventures in the US, and Inflection Point Ventures and Venture Catalysts in India.
According to the official statement, the company plans to use the funds to accelerate product development and hire talent across the US and India.
Founded in 2018 by
India: Vested Finance nabs funding from Moving Capital, Ovo Fund, others
Photo by Josh Appel on Unsplash
February 5, 2021
Online investment platform Vested Finance on Friday said that it has raised $3.6 million as part of its seed funding round, which saw participation from US-based Moving Capital, Ovo Fund and TenOneTen Ventures.
Two-year old startup Vested Finance, which is based in California, with offices in Mumbai, allows Indian investors to invest in the US stock market.
“Individuals in India have been contributing to the top and bottom line of international companies for decades but have never had the chance to create wealth by investing in them. Our goal is to build the easiest U.S. investing platform for Indian investors, and our growth to date has proven that interest in the opportunity is strong and increasing.,” said Viram Shah, chief executive and co-founder, Vested Finance.
Online investment platform Vested Finance on Friday said it has raised USD 3.6 million (about Rs 26.2 crore) in funding from Moving Capital, Ovo Fund and TenOneTen Ventures in the US. The seed funding round also saw participation from Inflection Point Ventures and Venture Catalysts in India, a statement said. The company will use the new funds to accelerate product development and hire talent across the US and India, it added. Vested Finance is a California-headquartered US Securities and Exchange Commission (SEC) Registered Investment Adviser (RIA) that enables Indian investors to invest in the US stock market. Founded two years ago, the company has seen rapid growth in 2020 and processed more than USD 100 million in trades in 2020.