Kalaari Capital and others back community investment platform threedots

Threedots, a community investment platform owned and operated by Tres Commas Technologies Pvt Ltd, has raised $4 million in its seed funding round led by Kalaari Capital, the company announced in a statement on Wednesday.

Better Capital, iSeed, Cloud Capital, Kunal Shah of Cred, Lalit Keshre of Groww, Jitendra Gupta of neobank Jupiter, Amrish Rau and Sweta Rau of Pine labs, Ramakant Sharma of Livspace, Rohit MA of cloud9, angel investor Giri Malpani of Malpani family, Mohit Daga, were among those who participated in the round.

threedots plans to use the funds for product development and to expand its team. It currently has a team of 30 employees and plans to hire 20 more in the coming months.

threedots, founded in March last year by former Groww employees and BITS alumni Pilani Rishu Garg, Prakhar Bhardwaj and Akul Agarwal, offers a platform that gives users access to financial news and a community focused on finance, while allowing them to invest in equities.

The platform allows members to leverage their knowledge, expertise, and experience of the stock and crypto markets, thereby enabling users to make informed decisions, the company said.

threedots claims to have onboarded over 100 market experts who guide users in their community and said to have partnerships with Groww, Coindcx, and Finshots.

The three founders also worked with companies like Cleartax and Small Case, he added.

threedots said it is betting on the retail investment market as it is growing rapidly in India. More than 14 million demat accounts were created in 2020-21 (FY21), compared to 4.9 million in 2019-20 (FY20), threedots said, adding that while only 3% of Indians are currently investing in the capital market , the number is expected to increase to 15% by 2030.

“Our vision is to make threedots the next generation community investment platform where people can learn, discuss and invest in one place. We want to change the financial lives of the next 100 million users in India who will use the services investors for the first time and help them build wealth,” said Rishu Garg, co-founder of threedots.

Many investment and wealth management platforms have aggressively raised funds to capitalize on the recent surge in new investors and retail investors. On Tuesday, INDmoney, another wealth management company, raised $75 million from Steadview Capital, Tiger Global Management and others. INDmoney said it will also add a stock brokerage stack to its platform.

VCCircle reported earlier this month that Groww, which recently onboarded Microsoft Corp CEO Satya Nadella as an investor and adviser, plans to raise up to $1 billion in its funding round. Series F financing.

“Equity investments in India are expected to experience strong growth supported by the increased access to information brought by platforms going digital. With current penetration of only 5%, there is a huge opportunity for a platform to help millennials come and learn the art of investing from financial influencers,” said Kiran Vasireddy, partner at Kalaari Capital, who was a former chief operating officer (COO) at Paytm.

Jill E. Washington