Total amount raised
$14.8 Million
Latest funding date
04/01/2022
Location
Stockal has successfully raised funding over 8 rounds, with the latest being a Series B round led by Credence Family Office. The platform is backed by 28 investors, including recent contributions from Credence Family Office and July Ventures.
Keep reading to explore the intricacies of Stockal's fundraising journey and the investors backing this innovative platform.
What Is Stockal?
Stockal, a subsidiary of Borderless Investing Inc., operates within the financial technology (fintech) industry. The company is based in New York, United States, and employs between 51-100 individuals.
Stockal offers a global investing platform that includes international asset classes such as stocks, ETFs, hedge funds, and fixed income. The company also provides multi-currency accounts and international payment services, aiming to make money global for its diverse clientele.
How Much Funding Has Stockal Raised?
- Angel Round
- Amount Raised: Not publicly disclosed
- Date: October 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to kickstart the company's operations and product development.
- Angel Round
- Amount Raised: Not publicly disclosed
- Date: September 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and expand the team.
- Seed Round
- Amount Raised: USD 1,800,000
- Date: July 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and scale operations.
- Seed Round
- Amount Raised: USD 3,000,000
- Date: May 2021
- Lead Investors: Ritesh Agarwal, ScaleX Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and develop new features.
- Seed Round
- Amount Raised: USD 1,000,000
- Date: September 2021
- Lead Investors: HDFC Bank, HDFC Securities
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support regional expansion and strengthen partnerships.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance technological infrastructure.
- Series A
- Amount Raised: USD 9,000,000
- Date: April 2022
- Lead Investors: Hashed, Peak 6
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enter the South East Asian markets and drive international expansion.
- Series B
- Amount Raised: USD 24,000,000
- Date: May 2025
- Lead Investors: Credence Family Office
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance global market reach.
Total Amount Raised: USD 38,800,000. Current Valuation: Not publicly disclosed.
Key Investors
- Credence Family Office
- Details: Credence Family Office is a prominent investment firm that participated in Stockal's Series B funding round. Mitesh Shah is a notable partner associated with the firm.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Borderless.
- Hashed
- Details: Hashed is a global early-stage venture fund focused on blockchain and cryptocurrency. The firm participated in Stockal's Series A funding round.
- Investment Focus Areas: Blockchain, cryptocurrency, web3.
- Notable Investments: Not publicly disclosed.
- PEAK6
- Details: PEAK6 is a private investment and technology firm based in Chicago. The firm has a broad investment focus and participated in Stockal's Series A funding round.
- Investment Focus Areas: Fintech, technology, financial services.
- Notable Investments: Apex Fintech.
- HDFC Bank
- Details: HDFC Bank is one of India's leading private sector banks. The bank participated in Stockal's seed funding round.
- Investment Focus Areas: Banking, financial services, technology.
- Notable Investments: Not publicly disclosed.
- HDFC Securities
- Details: HDFC Securities is a subsidiary of HDFC Bank and a leading stock broking company in India. The firm participated in Stockal's seed funding round.
- Investment Focus Areas: Stock broking, financial services, technology.
- Notable Investments: Not publicly disclosed.
What's Next for Stockal?
Stockal's future looks promising as it eyes expansion into the South East Asian markets. This region presents a significant opportunity for growth, given the increasing interest in cross-border investments among retail investors. With a successful track record of processing over $750 million in global transactions, Stockal is well-positioned to capitalize on this trend.
To support this ambitious expansion, Stockal may seek additional funding rounds. The recent Series A round, which raised $9 million, indicates strong investor confidence. However, the company will need to navigate regulatory challenges and compete with established players in the market. By leveraging its existing partnerships and focusing on seamless platform integration, Stockal aims to build a robust presence in new regions.
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