Securities trading firm IIFL Securities has acquired a 15 per cent strategic stake in Bengaluru-based fintech startup Trendlyne, a stock market analytics platform for retail investors, analysts, fund managers and advisors.
The deal, the size of which was not disclosed, will also see integration of several features of Trendlyne with IIFL Securities to strengthen the latter's investment solutions.
Trendlyne had raised seed investment in January this year from DICE Fintech ACE, the startup accelerator programme backed by the Three Sisters institutional office along with the Bhagchandka Group family office fund. The existing investors also joined the round to maintain their stake in the firm.
Trendlyne will use the funds to expand to international markets such as the US, the UK and Canada, cofounder Amber Pabreja told ET.
"Online retail investors have grown by 50 per cent in the last year, and they are looking at more advanced decision making," Aniruddha Dange, digital strategy head at IIFL Group, told ET. "Trendlyne is a phenomenal site which offers several analytical tools for an average investor, while also offering them insight on super investor trends."
"We have been able to get big clients and serious investors on our platform in only 15 months, which has shown the reliability of the technology," Pabreja told ET. "We will now look to get into international markets where such tools are still not available," he added.
Trendlyne is an Oracle Startup Accelerator alumnus.
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ET Markets
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