Kotak Securities Limited (KSL) today announced the closure of its investment in financial technology startup Kredent InfoEdge Private Limited (KIPL) for a total cash consideration of Rs 10 crore as part of its recently launched Start-up Investment and Engagement Programme.
KIPL is a financial technology company, focusing on training people through learning and analytics platforms. The company offers three brands – elearnmarkets.com (e-learning platform focusing on training users), StockEdge (research & analytics platform for stock market investors) and StockEdge Club (social marketplace platform for investors and traders). KIPL plans to use the fresh funds as part of growth capital to drive marketing efforts, scale-up the e-learning and fintech business, and enhance technology offerings. KSL will explore proving e-learning and digital value added services to its customer base via partnership with KIPL.
Jaideep Hansraj, MD & CEO, Kotak Securities said, “Fintech startups have changed the way how retail investors invest and adapt to shifts in the market. KSL is committed to continuously innovate and provide the full bouquet of digital offerings to our customers. In this journey, we are delighted to partner with brands like StockEdge and elearnmarkets.”
Shripal Shah, President and Key Leadership Team member, Kotak Securities said, “We have seen the potential of StockEdge and elearnmarkets.com and partnering with such firms will be part of our core strategy of providing a differentiated experience to our customers. We are seeing that more and more millennials are entering the capital markets and financial education becomes very important to serve them well.”
Vivek Bajaj, Co-Founder & Director, StockEdge & elearnmarkets.com, said, “We are excited to have Kotak Securities onboard as one of our Investors. We share a common philosophy of empowering retail investors through right knowledge. As financial markets in India expand to real Bharat, we are perfectly positioned together to cater to the 360 degree needs of new Investors in India.”
