Next-gen community investing platform, threedots, has raised $4 million in its seed round of funding led by Kalaari Capital. Other investors include Better Capital, iSeed, Cloud capital, Kunal Shah (Cred), Lalit Keshre (Groww), Jitendra Gupta (Jupiter), Amrish and Sweta Rau (Pine Labs), Ramakant Sharma (Livspace), Rohit MA (cloud9), Giri Malpani (Malpani Family), Mohit Daga and others. The funds will be used for strengthening the product and expanding the teams as well as expanding a potential $30 billion combined cryptocurrencies and stocks market.
With the composition of millennials and GenZ increasing in the active investors' community, tech platforms in the vertical are attracting capital investments from varied group of investors. This market, as per an official statement from threedots, is rapidly expanding, with over 14 million Demat accounts in FY21 as against 4.9 million in FY20.
Currently, only 3 per cent of Indians invest in the capital market which is poised to reach 15 per cent by 2030 as compared to 55 per cent in the US. threedots was founded in March 2021 by Rishu Garg, Prakhar Bhardwaj and Akul Agarwal who are BITS Pilani alumni and have worked together at Groww. The founders have experience in product and scaling with backgrounds in working with companies like Cleartax and Smallcase. threedots has already onboarded 100+ market experts who guide users in their community, as well as partnerships with Groww, Coindcx, and Finshots.
Its key differentiators are -- just in time and on-demand relevant information availability, experts-led investing communities, interests, and cultures, app designed with a focus on real needs and problems of the masses. “Our vision is to make threedots the next-gen community investment platform where people can learn, discuss & invest all at one place. Our goal is to shape and empower the investment ecosystem in India. We want to change the financial life of the next 100 mn users in India who will be using financial services for the first time and help them create wealth. At threedots, we always practice and believe in hyper trust - within our users & our team, which was missing in the industry for so long,” Rishu Garg, Co-founder, threedots, said.
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