StockDaddy Raises $1 Mn to Expand E-Learning Platform For Investment And Trading
The company has opened a new office in Mumbai
Gurugram-based edtech startup StockDaddy, which educates people about investment and trading in stock markets, has raised $1 million from Jitender Lall, managing director, Proactive Healthcare, in the fourth round of funding.
"People have started taking an interest in the stock market, which is an untouched income-generating area to 98 per cent of the Indian population. One lakh downloads of StockDaddy app in less than 60 days somewhat validate the change in people's mindset, which StockDaddy intends to foster," said Alok Kumar, founder and CEO, StockDaddy.
"Our progressive vision leverages our credibility among stakeholders. The recently raised funds from Mr Jitender Lall will help expedite our expansion spree in both virtual and physical markets," he added.
According to a report published in October last year by Internshala Trainings, the e-learning arm of Internshala, there was an eight-fold increase in enrollments in beginner's trading certification training from 2016 to 2021, which highlighted young graduates' interest in acquiring stock market trading and investment skills. The report outlined the growing recruitment drives and career opportunities in the field of finance, trading, investment and stocks as one of the reasons why trading skills are gaining popularity among young graduates. Stock market management was the most popular profile among employers hiring interns in the investment domain during 2020-21.
"StockDaddy is working on a "Fit for All' business model and its board has many credible leaders, who can help the organization meet its targets in a market full of potential," said Jitender Lall.
Founded in 2020, StockDaddy is an e-learning application that aims to help people learn and develop skills in stock market trading through customized courses and content. The company received its third round of funding in March 2022 from five angel investors.