Synopsis
Trackk, a stock trading platform for Gen Z investors, has secured $3.7 million in a funding round. Lightspeed Ventures led the investment. The platform uses AI for stock discovery and simplified trading. Trackk aims to expand its product offerings and marketing efforts with this capital.Listen to this article in summarized format
Founded by Vedant Gupte, Siddharth Thakkar, and Aryan Jain in 2021, the startup positions itself as a stock discovery and trading platform built for first-time investors.
The company says it combines AI-led stock discovery, personalised user journeys, and simplified execution tools to make investing more accessible for new investors. The startup has raised about $1.7 million to date from MGA Ventures, GSF Ventures, GNP Group, Paras Defence, and angel investors.
ET reported on May 6 that Trackk was in discussions to raise new funding.
Gupte, Cofounder and CEO of Trackk, told ET that for the first three years, the platform was built on top of online trading and stock broking startup AngelOne's APIs, with trade execution happening through AngelOne on the backend. "The platform has since accumulated around 2 lakh signups, with 33,000 users having opened Demat accounts and 3,500 people trading on a daily basis," he said.
He added that the average age of users on the platform was between 22 and 24, and that the AUM (Assets Under Management) per user stood upwards of Rs 40,000.
Trackk received SEBI's nod to offer brokerage services last year and has opened over 30,000 trading accounts on its platform, with about 85% of them being first-time users, according to persons who have evaluated the startup.
The startup, currently a 45-member team, plans to grow to 65 employees over the next two quarters.
On the use of the current fundraise, Gupte said the capital will primarily go into deeper product development, expanding into new asset classes for the same user base, and ramping up branding and marketing efforts.
The segment has seen renewed investor interest, with wealth management platform Zomint, which offers personalised investment advice, also looking to close a $3–4 million round backed by Lightspeed Venture Partners and Prime Venture Partners.
