InCred Money, the online investment platform from InCred Group, is buying Stocko, a discount stock trading platform. This move will help InCred Money enter the retail stockbroking market. While the company didn’t reveal how much the deal is worth, sources say it’s an all-cash deal for around ₹300 crore.
The deal still needs approval from regulators. If it gets approved, Stocko—which is currently run by South Asian Stocks Limited—will be renamed InCred Stocko and become part of InCred Money, the company based in Mumbai said.
“India’s investing ecosystem is evolving rapidly,” said Bhupinder Singh, founder and CEO of InCred. “Stocko gives us a proven platform with serious volume, and we’ll bring our tech, capital, and customer-first mindset to unlock its full potential.”
Stocko, based in New Delhi and started in 2013 as SAS Online, lets users trade in stocks, derivatives, commodities, and currencies. It charges a flat fee of ₹12.99 per trade. For frequent traders, it also offers a subscription plan where the cost per trade can go down to ₹2.99. The platform says it handles a daily trading volume of about ₹1 lakh crore.
The acquisition will allow InCred Money to offer stock and derivatives trading to regular investors as part of its services.
InCred Group started in 2016, runs three main businesses: InCred Finance, which gives loans; InCred Capital, which provides wealth services to big investors and institutions; and InCred Money, which offers investment options like fixed deposits and alternative investments to regular investors.
The Stocko team, led by CEO Shrey Jain, will continue to operate the platform post-acquisition.
“With InCred’s backing, we’ll scale faster, innovate harder, and roll out smarter products—from enhanced margin funding to sharper tech,” said Jain.
By entering the retail broking space, InCred Money joins other financial companies and fintechs trying to offer all-in-one platforms. These platforms combine lending, wealth management, and investing, making the differences between them less clear.
Platforms like Groww, which began with mutual fund investments and later added stock trading, derivatives, and asset management, and Paytm Money, which started with payments and moved into broking and investment advice, are good examples of this trend.
In December 2023, InCred Finance raised $60 million in a Series D funding round from several wealthy investors. This funding pushed the company’s value to about $1.04 billion, making it a unicorn (a startup worth over $1 billion).
In April, the media reported that InCred Financial Services is planning to raise about $470 million through an IPO (initial public offering). The Mumbai-based company, which is partnered with KKR & Co., is talking to firms like IIFL Securities, Kotak Mahindra Bank, and Nomura Holdings about helping with the IPO.
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