New Delhi: StockDaddy, a Gurugram-based edtech startup that teaches individuals about investing and trading in stock markets, has secured an unknown amount from angel investors. To address the organization's growing needs, StockDaddy will use the funds to open centres in the capital cities of all 29 states, improve technical infrastructure, and hire more team members.
The round was led by angels in their personal capacity, including T.S. Shridhar (Executive Director, City Union Bank), Gurmimdar Pal Singh and Jatin Arneja (Directors at Smart Equity Brokers), Avinash Singh (MD, MyBioDx Healthcare), and Anil Goswami (Director at New Green Carriers India).
Alok Kumar, Founder & CEO, StockDaddy, said, “There is a huge untapped potential in the market as not more than 2% of Indian population invest in the stock market. Lack of appropriate knowledge and almost zero access to authentic platforms make us a strong contender in this segment. With more than 75,000 customers on the StockDaddy app in less than sixty days somewhat validate our progressive vision and leverage credibility among the stakeholders. The recently raised funds will further expedite our expansion spree.”
“The majority of people still treat trading as gambling due to the prevailing misconceptions and myths. StockDaddy is an initiative to dispel all these negativities from society and help them better understand the nitty-gritty of stock market investment and trading. We are targeting 5 Lakhs customers on StockDaddy app by the end of March 2022, added by Alok Kumar
Founded by Alok Kumar and Co-founded by Ranjeet Kumar in 2020, StockDaddy aims at filling the wide learning gaps in stock trading/investment through customized courses and content. In 2021, they completed 3 investment rounds in million dollars (undisclosed amount).
While commenting on his investment decision, T.S. Shridhar said, “Since StockDaddy is working on the “Fit for All” business model, they can easily convert learners into investors. Moreover, as they entered into the market after extensive research and pre-testing of the product, the probability of getting success is high. Alok is only 24-year-old but his vision is quite clear, he is good at convincing people, including investors. As per my experience, this startup will hardly take three months from now to reach break-even.”
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