The partnership will widen the company’s subscriber base by expanding growth opportunities to allow Indian investors get access to over 5500 US-listed companies fractional stocks, and expert-curated Stacks & ETFs.
HDFC Bank Ltd, India’s leading private banking institution and HDFC Securities Ltd invested USD 1 Million in Borderless Softtech Pvt. Ltd., a subsidiary of US based Borderless Investing Inc., which runs Stockal, India’s largest global investment platform as part of its Pre-Series A funding. This partnership will widen the company’s subscriber base by expanding growth opportunities to allow Indian investors get access to over 5500 US-listed companies fractional stocks, and expert-curated Stacks & ETFs. HDFC Securities was the first financial institution to partner with the platform to help drive its growth in the country post its onset in India making it the No.1 platform for seamless investments in the US Markets.
The company is planning to utilize the funding to turbocharge its growth making it a platform of choice for Indian Investors.
Speaking on this partnership, Ms. Smita Bhagat, Country Head, HDFC Bank, said, “Our funding decision was based on the strength and resilience the Stockal platform has shown in India, especially in the past few months. We trust their potential to expand and grow the global investment space in the country with their strategic solutions and digital-first thinking. The company has powered our global investments platform and enabled many Indian investors trade in the US. We see that our seamless digital platform and global offerings supported by Stockal for last few years has captured the interest of many new and experienced investors here in India. With the demand for US stocks growing in the country and the trust we have developed working with the team, we believe that we will be able to create a one-stop solution to all investment needs for our subscriber base.”
Commenting on the above, Mr. Dhiraj Relli, MD& CEO, HDFC Securities says, “Global Investing through Borderless’s brand ‘Stockal’ has been instrumental in our overarching approach of helping our customers diversify their investments. We have seen great interest in US equities, which is further complimented by the seamless investing experience offered by the platform. Investing in this company resonates very well with our mindset of growth for our customers and being future ready with our product innovations, while being digitally wired to offer an elated platform experience to all our clients.”
Talking about the partnership, Mr. Vinay Bharathwaj, Co-CEO and Co-Founder of Stockal said, “Getting funded by HDFC Bank and HDFC Securities, the leading banking organization and also our customer is a testimony to the growth potential of international investing and our Stockal brand. HDFC Securities was the first leading financial organizations to partner with the company, when we arrived in India. Our relationship with them has now transformed and we believe that this partnership will continue to be instrumental growth driver in our endeavour to seamlessly mobilise cross-border investments in India. This funding will enable thousands of Indian investors to get exposure to opportunities offered by the global markets as we further expand our capabilities to markets in South-East Asia and Europe.”