smallcase raises $50M in Series D round led by Elev8

Online investment platform smallcase has raised $50 million in a Series D funding round led by Elev8 Venture Partners.

The round also saw participation from State Street Global Advisors, Niveshaay AIF, Faering Capital, and Arkam Ventures.

The funds will be used to expand smallcase’s investment product offerings across asset classes, strengthen retail investor engagement, and deepen its partnerships with financial institutions, according to a statement.

“India’s retail investing landscape is undergoing a seismic shift, and smallcase has been at the forefront of this transformation,” said Navin Honagudi, Managing Director and Founding General Partner at Elev8 Venture Partners. “Their ability to innovate, build trust, and scale in a highly competitive market makes them a standout player. smallcase fits our vision of backing companies that are not just growing fast but are also shaping industries."

Founded in 2016, smallcase says it has facilitated transactions worth over ₹1.2 lakh crore and has a user base exceeding 10 million investors.

The latest funding will enable smallcase to add mutual funds, fixed income instruments, and other asset classes to its product lineup. The company also plans to enhance its technology and data analytics capabilities to offer more sophisticated investment tools.

“Smallcase’s vision has always been to build simple and transparent products that are relevant for every investor’s portfolio,” said Vasanth Kamath, Co-founder and CEO of Smallcase. “The opportunity to help millions of Indians design better financial futures is one of huge responsibility, and we will continue to deliver on it with honesty and integrity.”

smallcase recently expanded its footprint by partnering with online brokerage platform Zerodha to launch an asset management company focused on index funds and ETFs.

Backed by South Korea’s KB Investment, Elev8 Venture Partners is a $200-million growth-stage fund focused on high-growth Indian startups in B2B SaaS, enterprise tech, consumer tech, and fintech. Its previous investments include IDfy, an identity verification platform, and Astrotalk, an astrotech startup.