Amazon has entered the financial services and insurance markets of India in recent years. Now it is paving the way to foray into the wealth management category.
The American e-commerce giant has backed Bangalore-based startup Smallcase in a $40 million Series C financing round.
The round was led by Faering Capital and Premji Invest as well as existing investors Sequoia Capital, Blume Ventures, Beenext, DSP Group, Arkam Ventures, WEH Ventures and HDFC Bank also participated in the new round, which brings its total to-date raise to over $65 million.
Founded by three IIT Kharagpur graduates in July 2015, Smallcase offers a platform to help introduce a new generation of