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HomeFunding India-Based Stoxkart Secured $11.9 Million in Funding

[Funding Alert] India-Based Stoxkart Secured $11.9 Million in Funding

Financial services company SMC Global has contributed $11.9 million, to the Indian online trading platform Stoxkart.

Stoxkart was founded in 2019 with the goal of making trading easier by providing a delivery trading model with no brokerage. According to the company, this allows investors to increase returns without worrying about expensive commissions. Its intraday trading and futures and options flat charge structure further increases trading accessibility.

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The platform helps them compete with regional companies like Groww and Zerodha by offering capabilities like order slicing and a variety of chart analysis tools.

With the goal of reaching one million downloads a year, Stoxkart plans to use the additional funds to support product development, marketing, customer acquisition, and tech innovation over the following 24 months.

Read also – India-Based Dhruva Space Secures $9 Million in Funding

According to data from Dalal Street Investment Journal, Groww is the online trading platform with the highest number of monthly active users reaching 6.8 million as of October 2023. It surpassed Zerodha, which ranks second with 6.5 million MAUs, in August 2023.

About Stoxkart

Stoxkart is a quickly expanding financial brokerage firm. With a wealth of financial market knowledge and a keen awareness of the evolving demands of its clientele, it enables traders and investors with its cutting-edge technology, zero brokerage benefits, and superior trading platform.

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