Smallcase, India’s largest model portfolios platform, has raised $50 million in its Series D funding round with a mix of primary and secondary led by Singapore’s Elev8 Venture Partners.

Smallcase said in a statement on last Friday the round also saw participation from new and existing investors including State Street Global Advisors, Niveshaay AIF, Faering Capital and Arkam Ventures.

Other existing investors include Peak XV Partners (formerly Sequoia Capital India), Blume Ventures, Amazon Smbhav Venture Fund (ASVF), Premji Invest, DSP Group and HDFC Bank.

The capital raised will be used to expand smallcase’s investment product offerings across asset classes and strengthen its relationships with retail investors and
ecosystem partners.

“The smallcase team has built a world-class investment platform that has become a mainstream player in India’s asset and wealth management landscape,

“Smallcase has not only established itself as a trusted brand but also continues to innovate on new formats to further scale its platform,” said Navin Honagudi, Managing Director and Founding General Partner, Elev8 Venture Partners.

“At Elev8, we strongly believe in smallcase’s vision and growth potential and are excited to support them in their journey,” he added.

Launched in 2016, smallcase has developed a platform for model portfolios of stocks and exchange-traded funds (ETFs), also called smallcases, for individuals to take a diversified approach towards building their long-term portfolios with full transparency and control.

In 2023, smallcase launched a new asset management company – in a joint venture with Zerodha – to extend its products layer to index funds and ETFs.

“Smallcase’s vision has always been to build simple and transparent products that are relevant for every investor’s portfolio,

“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 along with our partners,” said Vasanth Kamath, Co-founder and Chief Executive Officer of smallcase.

Anugrah Shrivastava, Co-founder of smallcase, said the firm has been able to scale its platform to new use-cases including secured credit.

“We are excited for our roadmap to expand smallcases to popular assets like mutual funds, fixed income and to introduce new tools for our customers to optimize their wealth and net-worth better,” he added.

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