India
- September 2026 : Stockify, a wealth-technology platform, is preparing to raise
₹50 crore (approximately $5 million) in its first fundraising round as it gears
up for the next phase of its business journey. The company is planning to use
the funds for enhancing its team, scaling up operations, and enriching the
scope of its offerings.
Stockify intends to invest the ₹50 crore in building an enlarged pool of
excellent professionals, improving technology, acquiring customers, and
developing new platforms. One of the crucial components of the expansion plan
will be the opening of a new office in the GIFT City of Ahmedabad while ramping
up the presence in Mumbai, Delhi, Bengaluru and Dubai. The new funds will help
Stockify expand its team across important functions and invest in technology
that can enhance customer acquisition. The development of new platforms and
improving wealth-management services will be put into practice by the company
while scaling its business at the same time. Due to this fundraising, Stockify
will be able to build a solid physical base for further expansion while
focusing its attention on profitability.
During
his thoughts on the upcoming fundraising, Stockify’s founder and CEO, Piyush Jhunjhunwala,
explained that at Stockify they have only followed the “earn and burn”
approach, not “burn and earn.” According to Jhunjhunwala, "We have always
been profitable since we started operations, and this will always remain the
foundation of our philosophy. With the funds raised, we would be strengthening
our manpower, putting in different systems, creating new platforms, and
ensuring that we continue to remain profitable." With the new funds,
Stockify wants to expand its operations and grow three times its profits,
reaching about ₹30 crore ($3 million) in a couple of years. The company expects
the expenses incurred on talent, technology, and acquisitions to help achieve
the goal of increasing profits while keeping the profitable business model intact.
The
firm's objective is to continue enhancing its wealth-management platform and
developing its operational capabilities throughout growth. Overall, it is
working to become a bigger and more sustainable wealth-tech firm while
balancing growth plans across the various areas with being financially
responsible and making sure the company stays profitable.