Public, an India-based investment tech startup, has raised $550 million in a Series lrtrading D funding round led by Avenir Growth Capital, with participation from existing investors, including Accel, General Catalyst, and Lightspeed Venture Partners. The funding round values Public at $3.5 billion, up from $1.2 billion just six months ago.
Founded in 2017, Public’s mission is to democratize access to investing by providing a user-friendly platform that allows anyone to invest in stocks, mutual funds, and exchange-traded funds (ETFs) with as little as $1. The platform also offers social features, ifsptv allowing users to follow other investors, share ideas and insights, and learn from experts.
With the new funding, Public plans to expand its product offerings and reach more users across India and beyond. The company will use the funds to launch new investment products, including options trading and cryptocurrency trading. Public also plans to invest in technology and talent to enhance its platform and improve the user experience.
Public’s success comes at a time when the Indian giveme5 investment tech industry is booming, driven by increased interest in investing among the country’s burgeoning middle class. According to a report by NASSCOM, India’s investment tech market is expected to grow at a CAGR of 29% to reach $20 billion by 2025.
Public’s focus on democratizing access to investing also aligns with the Indian government’s efforts to promote financial inclusion and literacy. In 2014, the government launched the Pradhan Mantri Jan Dhan Yojana, a national financial inclusion campaign that aims to provide access to financial services like bank accounts, credit, insurance, and pensions to all Indians.
Public’s ability to raise significant funding 123chill from top-tier investors like Avenir Growth Capital is a testament to the potential of the Indian investment tech market and the company’s unique position within it. As more and more Indians look to invest in the stock market and build their wealth, platforms like Public are poised to play an increasingly important role in the country’s financial ecosystem.
Overall, Public’s successful Series D funding round manytoons represents a significant milestone for the company and the Indian investment tech industry as a whole. With continued innovation and investment, Public is well-positioned to continue its rapid growth and transform the way Indians think about investing and financial inclusion. As the Indian economy continues to recover from the pandemic, platforms like Public will play a vital role in driving growth and creating opportunities for millions of Indians tv bucetas.
