StockGro, a social investment platform which grooms potential stock investors, is working to onboard stock brokers and banks on its platform to make it convenient for its subscribers to actually start trading in stocks.
“We are at the testing phase. We will launch it in about a quarter,” said Ajay Lakhotia, founder & CEO, StockGro.
“We will help open their [subscriber’s] demat accounts so that they can start trading. Instead of competing with anyone, we have started to collaborate with brokers, banks and everyone who could put their products on our platform and our subscribers can then take an informed decision on which broker they want to go with and where they want to invest,” he said.
He said banks, especially the neo banks were willing to become a part of StockGro’s ecosystem.
“StockGro will be a community of people having inclination to invest or to learn how to invest. So, this will become the largest community and for banks, brokers this is the population they want to talk to,” he added.
He said the firm’s subscriber base, currently at over 11 million, has been growing on an average of 15 to 20% month on month. “The average acquisition per month is anywhere between 1.5 million to 2 million users” he said.
Recently, the firm has raised $32 million from global investors such as Bitkraft Ventures, General Catalyst and Lightricks co-founder Itai Tsiddon, Roots Ventures and Creed Capital. The firm had raised $8 million in the previous round.