Stack raises funds from SucSEED Indovation Fund and CRED

Bengaluru-based fintech startup Stack Finance raised an undisclosed amount from Hyderabad-headquartered SucSEED Innovation Fund and other marquee angel investors such as Kunal Shah (CEO of CRED).

After graduating from Y Combinator in 2021, Stack has secured $4.5 million in investments from global VCs, including Goodwater Capital, Uncommon Capital, Harvard Management, and Earlsfield Capital, along with many other known global investors.

Stack has a target to provide the best investing experience on a daily basis for investors. Stack focuses on allowing millennial and Gen-Z to-

invest for their life goals, and
to help them attain financial independence by educating them about smart investments.

The startup has had its end users of about 100,000+ since its launch six months back, with 55 % of new investors coming from tier II-III cities under the age slack of 30. Stack claims to generate a positive impact on Indian financers. Users on Stack have created goals worth $100 million and are experiencing 100 % MoM growth.

Being unconfused, Stack claims to cut out the traffic and focuses on building sustainable long-term savings for its users. It lets beginners and busy professionals invest on their terms without worrying about the check on the market.

Stack builds a custom low-cost, diversified portfolio for users, which is generated by the experts, keeping their risk factors and goals in mind, to make a globally diversified portfolio, which is maintained regularly to keep the check on the risk level.

EXECUTIVE OPINION:

Vikrant Varshney, Co-founder and Managing Partner of SucSEED Indovation Fund, said, “Stack Finance helps simplify investing for Young India. India is home to almost one-fifth of the world population and has a literacy rate of nearly 80 percent; yet only 24 percent are financially literate. With a Total Addressable Market (TAM) of 620 million, as population in the age bracket of (18-35Y); SAM (serviceable addressable market) of 180 million in Tier-I and Tier-II Cities and SOM (serviceable obtainable market) of 78 million, there is a huge growth potential for Simplified Wealth Management solutions for millennials and youth. Stack is witnessing 100 percent MoM growth as of now and we wanted to keep backing them on the way.”

Smriti Tomar, Co-founder and CEO of Stack said, “Thousands of people already use Stack to grow their money and build a better future. We are on a mission to help everyone achieve financial freedom, no matter who they are or how much they have. And we have just started this revolution, there are many more exciting offerings coming up on the app, which the entire team is excited about!”

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Stack raises funds from SucSEED Indovation Fund and CRED

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