Smallcase Raises USD 50 Mn in Series D Led by Elev8 to Expand Investment Offerings This marks Elev8's third investment, following its earlier backing of IDfy and Astrotalk.
You're reading BIZ Experiences India, an international franchise of BIZ Experiences Media.
Wealthtech startup Smallcase has raised USD 50 million in its Series D round, led by Elev8 Venture Partners, a USD 200 million growth-stage fund backing high-potential Indian startups. The round also saw participation from State Street Global Advisors, Niveshaay AIF, Faering Capital, and Arkam Ventures.
The fresh capital will be deployed to broaden Smallcase's suite of investment products across various asset classes, with a focus on strengthening relationships with retail investors and ecosystem partners such as brokers, advisors, and asset managers. This move comes as Smallcase looks to scale its platform and deepen its penetration into India's rapidly evolving wealth management ecosystem.
"We see a significant opportunity in empowering Indian investors with modern investment tools, and this fundraise enables us to further build on that mission," said Vasanth Kamath, Founder and CEO of Smallcase. "With strong partners like Elev8 and State Street Global Advisors on board, we are excited to expand our reach and product depth across the investing landscape."
Smallcase was founded in 2016 by Vasanth Kamath, Anugrah Shrivastava, and Rohan Gupta. The startup has emerged as a key player in India's wealthtech space, offering a platform that allows investors to put money into "smallcases" — curated baskets of stocks and ETFs that reflect a specific idea, strategy, or theme.
Beyond thematic portfolios, Smallcase also offers tools for direct indexing, ETFs, and fixed-income investing, all integrated with leading brokerage platforms like Zerodha, Upstox, Kotak Securities, and HDFC Securities. It also supports registered investment advisors (RIAs) and asset managers with technology to build and distribute their own smallcases.
"Smallcase is at the forefront of redefining how India invests — their strong product-market fit and tech-driven approach positions them to lead the new generation of wealth creation," said Navin Honagudi, Managing Director and Founding General Partner at Elev8 Venture Partners.
With over 10 million users and more than INR 1.2 lakh crore in transactions facilitated to date, Smallcase is now eyeing deeper integration across financial institutions and the launch of global investment products. The company is also exploring opportunities to expand its infrastructure solutions for advisors and asset managers.
"Our vision is to build the investment infrastructure of tomorrow — one that is transparent, efficient, and aligned with the modern investor's needs," Kamath added.
