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August 19, 2021updated 28 Jul 2022 5:04am

Amazon invests in fintech smallcase to enter Indian wealth management space

American e-commerce giant Amazon has forayed into Indian wealth management market by making investment in startup smallcase Technologies.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

Amazon, alongside Premji Invest, participated in smallcase’s $40m Series C funding round that was led by Faering Capital.

The round was also joined by the company’s existing investors such as Sequoia Capital, Blume Ventures, Beenext, DSP Group, Arkam Ventures, WEH Ventures and HDFC Bank.

Launched in 2016 by Vasanth Kamath, Anugrah Shrivastava and Rohan Gupta, smallcase provides direct indexing and model portfolio platform that claims to have three million users.

The firm has a team of 200 employees at present and about two-thirds of them are said to work in technology and product engineering.

“This financing increases our responsibility to continue building simple, transparent and delightful experiences and platforms, while delivering more value to our users and partners. Our true success will lie in developing the core building blocks for every investor’s portfolio and becoming a key part of their toolkit,” the firm said in a statement announcing the fundraise.

In September 2020, the Bengaluru-based fintech raised $14m in Series B funding round.

Commenting on the latest round, smallcase founder and CEO Vasanth Kamath said: “The last two years have seen remarkable interest from Indian retail investors in the equity markets, and we are inspired to see smallcase become the primary gateway to stocks and ETFs for millions of new investors.”

Last month, India-based wealth management startup Tarraki entered into a strategic partnership with alternate investment platform smallcase.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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