The investors that are part of this funding include Hashed (a global web3 focused venture fund), and PEAK6 (an investment firm in the US).
Stockal, a global investment platform, raised $9 million as part of its Series A funding. The investors that are part of this funding include Hashed (a global web3 focused venture fund), and PEAK6 (an investment firm in the US). Besides, ARC Group Ventures (venture capital arm of ARC Group), Trica, 7Square, AZ Ventures, Czar Capital, Riso Capital and some of Stockal’s existing investors also participated in the round.
The new funds will be used to drive Stockal’s international expansion plans, the firm said. “With the fresh inflow of funds, Stockal will be now be entering the South East Asian markets,” it added.
Commenting on the funding, the co-founders and co-CEOs – Sitashwa Srivastava and Vinay Bharathwaj – said, “We are very excited about the opportunity of making investing and savings a truly borderless use-case. Investors from emerging markets have always been short-changed when it comes to finding diverse investment opportunities and we are happy to play a large role in unlocking the global potential for them. The last couple of years has highlighted that there is a tremendous appetite among retail investors to make their money borderless and they will make the leap provided the required ecosystem is available. We are working very closely with banks and regulators in all our markets to make Stockal an extremely seamless platform.”
Simon Kim, CEO & managing partner at Hashed, said, “We are very bullish on the global investing trend. As financial boundaries are becoming smaller, people in Asia are looking at investing options that are global and democratic. We believe Stockal has the right ingredients to build global leadership in this space. They have created a very impressive distribution network in India and MENA and we are excited about their prospects and approach in South East Asia and Eastern Europe.”