HDFC Bank Backs Fintech Startup SmallcaseHDFC Bank has picked a minority stake in the company in return of the investment made as part of Series B funding round

Smallcase, a financial technology company that enables investing in a basket of stocks, has raised an undisclosed amount as part of its series B funding round from HDFC Bank. The country's largest lender has picked a minority stake in the company in return of the investment.

Existing investors DSP Group, Sequoia Capital and Blume Ventures along with Arkam Ventures and a clutch of angel investors also participated in the round.

Founded in 2015 by IIT-Kharagpur alumnus Vasanth Kamath, Rohan Gupta and Anugrah Shrivastava, smallcase through its platform lets people invest in a portfolio of stocks or exchange-traded funds (ETFs), or even create customized portfolios. These portfolios can be sectoral, thematic, large-cap stocks-oriented or give exposure to various assets via ETFs aligned with the chosen asset allocation strategy.

For instance, a smallcase named "Smart Beta' offers exposure to large-cap stocks.

Also Read:How Smallcase is Making Equity Investing Easier

"With a unique model, smallcase is well positioned to create a niche in the capital markets in India and also help expand the market," Smita Bhagat, head – government and institutional business, e-commerce and startups units, HDFC Bank, said.

The Bengaluru-based company had raised USD 14 million as part of its Series B financing round led by DSP Group in September this year.

The start-up has tied up with brokerages like HDFC Securities, Kotak Securities, Axis Securities and Zerodha to offer smallcases to its customers.

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