SMC Global Backs StoxKart with an INR 100 Cr Investment With the new investment, the Delhi-based platform will go towards technology development, feature enhancement, marketing, and consumer education over the next two years.
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SMC Global announced that it has invested INR 100 crore in the stock and options trading app StoxKart to improve technical features, marketing, and customer education over the next two years.
SMC Global has previously invested 35 crore as the initial funding round towards the development and launch of StoxKarts.
StoxKart is an online trading platform led by Pranay Aggarwal and run by a diverse team of engineers, tech geeks, market experts, and finance experts. StoxKart offers cutting-edge solutions for traders and investors.
The company said in a press release, "StoxKart's unique selling point lies in its commitment to simplifying trading processes. The app offers a zero-brokerage trading model for delivery trades, allowing investors to maximise returns without the burden of hefty commissions. The transparent and predictable flat fee structure on F&O and intraday trading ensures further accessibility to trading."
The trading app offers one-click orders, multiple chart analysis, and various listings of options contracts for easy trading decisions. The platform also claims the lowest broadcast latency in the industry, at just 0.40 milliseconds.
Pranay Aggarwal, Director and CEO of StoxKart, said, "Our team's fervour was palpable as we introduced the pioneering StoxKart trading app. This isn't merely another platform; it's a transformative force in trading culture. By fusing our rich heritage of market intelligence with cutting-edge technology and enriching it with insights from expert traders, we've engineered a solution that not only accelerates it but also streamlines the entire trading process, so "StoxKartkiyakya!""
Established in 1990, SMC Global Securities Ltd is a financial services and investment banking firm situated in New Delhi. It provides brokerage services for a variety of asset classes, including equities (cash and derivatives), commodities, and currency.
