StockGro Secures Rs 50 Crore in Debt Funding

Social investment and stock market advisory platform StockGro has successfully raised Rs 50 crore (approximately $5.7 million) in debt financing from its current investor Trifecta Capital. This funding comes on the heels of raising Rs 205 crore (around $25 million) in January 2024 from Hindustan Media Ventures and Trifecta Capital across two rounds.

Filings made with the Registrar of Companies (RoC) reveal that StockGro’s board has sanctioned the issuance of 500 Series B non-convertible debentures, each with a face value of Rs 10 lakh, thus facilitating the Rs 50 crore acquisition from Trifecta Capital.

About StockGro

Founded in 2020 by former venture capitalist Ajay Lakhotia, StockGro operates from Bengaluru and serves as a fintech platform dedicated to simplifying stock market investment. It offers support through SEBI-registered advisors, providing investment advisory services, portfolio management, and educational resources designed to assist users in navigating the complexities of the stock market.

Innovation with Stoxo

Recently, StockGro has introduced Stoxo, which is touted as India’s first AI-driven stock market research engine. This innovative tool delivers real-time and dependable insights aimed at aiding retail investors in making informed decisions.

Funding Milestones

As reported by various sources from startup data intelligence platform, the BITCRAFT Ventures-backed company has accumulated over $50 million in both debt and equity financing, including an impressive $32 million raised during its Series A round in January 2022.

Financial Performance

While StockGro has yet to disclose its financial results for FY25, data indicates a significant decline in revenue from operations, which fell by 34% to Rs 86.5 crore in FY24 compared to Rs 131 crore in FY23. Concurrently, losses escalated by 84%, reaching Rs 101 crore during the same timeframe.