Latest news with #InCredMoney
Time of India
5 days ago
- Business
- Time of India
InCred Money enters into retail broking with Stocko acquisition
InCred Money , the retail wealth‑tech investment distribution arm of the InCred Group , has announced its entry into retail broking through the proposed acquisition of South Asian Stocks Limited (SASL), which operates as 'Stocko'. Stocko clocks a daily notional turnover of around Rs 1 lakh crore, making it one of the most active discount brokers in the country. Subject to regulatory approvals, Stocko will be rebranded as InCred Stocko and integrated into InCred Money, the group's digital-first wealth and investment platform, according to a press release. Also Read | Nifty stuck in narrow range. Here's the mutual fund move you need to make now This acquisition marks a significant milestone for InCred Group—one of India's most ambitious and fastest‑growing diversified financial services platforms—in expanding its presence in retail broking with offerings in equities and derivatives trading. The transaction underscores InCred Group's commitment to building a full‑stack financial ecosystem—spanning lending, asset and wealth management, capital markets, and retail investing—backed by robust technology and a relentless focus on customer experience. Live Events Stocko, launched in 2013, has become a trusted name for active traders and retail investors, offering trading across equities, derivatives, commodities, and currencies. With a sleek, intuitive interface and flat-rate pricing of just Rs 12.99 per order, it delivers exceptional value at scale. Stocko also offers a unique subscription plan for active traders where pricing can go as low as Rs 2.99 per order. 'India's investing ecosystem is evolving rapidly,' said Bhupinder Singh, Founder and Group CEO of InCred. 'Stocko gives us a proven platform with serious volume, and we'll bring our tech, capital, and customer-first mindset to unlock its full potential.' InCred Money, where Stocko will now reside, is the group's digital wealth-tech arm, offering alternative investments and FDs, to retail customers. With the addition of Stocko, InCred Money will now also offer equities and derivatives, rounding out a comprehensive investment suite for digital-first users. Also Read | Best aggressive hybrid mutual funds to invest in June 2025 'This is a massive leap forward for us. With InCred's backing, we'll scale faster, innovate harder, and roll out smarter products - from enhanced margin funding to sharper tech. Our goal is simple: to become one of India's top 20 brokers in the next two years, and top 10 brokers in 4-5 years,' said Shrey Jain, CEO of Stocko. The Stocko team will continue to run the business under the InCred banner, ensuring continuity and client-centricity through the transition.
Time of India
6 days ago
- Business
- Time of India
InCred Money set to acquire discount broker Stocko, marking entry into retail broking
InCred Money , the digital-first wealthtech platform of financial services firm InCred Group , said it is set to acquire discount broking platform Stocko, marking its entry into the retail broking space. It did not disclose the size of the transaction, but people aware of the development said it would be an all-cash deal for about Rs 300 crore. The acquisition is subject to regulatory approvals. If cleared, it will see Stocko—currently operated by South Asian Stocks Limited—rebranded as InCred Stocko and integrated into InCred Money, the Mumbai-based company said. 'India's investing ecosystem is evolving rapidly,' said Bhupinder Singh, founder and CEO of InCred. 'Stocko gives us a proven platform with serious volume, and we'll bring our tech, capital, and customer-first mindset to unlock its full potential.' New Delhi-based Stocko, founded in 2013 as SAS Online, offers trading across equities, derivatives, commodities and currencies. It charges a flat fee of Rs 12.99 per order and offers a subscription-based model for active traders where the per-order cost can drop to Rs 2.99. The platform claims to clock a daily notional turnover of around Rs 1 lakh crore. The acquisition will help InCred Money extend its suite to include equities and derivatives trading for retail users. Live Events Founded in 2016, InCred Group operates three verticals—InCred Finance (NBFC lending), InCred Capital (institutional and HNI wealth services), and InCred Money, which offers products like fixed deposits and alternative investments to retail investors. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The Stocko team, led by CEO Shrey Jain, will continue to operate the platform post-acquisition. 'With InCred's backing, we'll scale faster, innovate harder, and roll out smarter products—from enhanced margin funding to sharper tech,' said Jain. InCred Money's entry into retail broking also adds to the list of traditional financial institutions and fintechs looking to build full-stack platforms, blurring the lines between lending, wealth management and investing. Platforms such as Groww, which started with mutual fund investments and expanded into equities, derivatives and asset management, and Paytm Money, which evolved from payments into broking and investment advisory, exemplify this shift. In December 2023, InCred Finance closed its Series D funding round, raising $60 million from a group of high-net-worth individuals. The round propelled the company into the unicorn club with a valuation of around $1.04 billion In April, Bloomberg reported that InCred Financial Services is in talks with potential advisers for an initial public offering (IPO) to raise about $470 million as the Mumbai-based company, a partner of KKR & Co., is in discussions with some firms, including IIFL Securities , Kotak Mahindra Bank Ltd. and Nomura Holdings Inc. about working on an IPO.
