Zerodha Allocates INR 1,000 Cr to Its Startup Investment Platform Rainmatter The firm has so far invested INR 400 crores in 80 startups
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Online stock broking unicorn Zerodha has allocated INR 1,000 crore more to Rainmatter, which is its startup investment platform.
"We started Rainmatter in 2016 to support fintech startups working on helping people do better with their money. So far, we have invested ~ Rs 400 crores in 80 startups. In this journey, we realized that having patient Indian investors backing Indian founders is helpful. We're now allocating Rs 1000 crores more to back entrepreneurs building for India," said Nithin Kamath, co-founder and CEO, Zerodha, in a tweet, while sharing additional information in a blog post.
Some of the startups that have raised money from Rainmatter include CRED, Fi, Indiagold, FinShot, Jupiter, Smallcase, Wintwealth, Ultrahuman, Stoa and Agnikul. The fund has invested close to INR 400 crore over the last seven years.
"Good businesses cannot be built overnight, something we learned in our journey. So we are perennial investors and stick with the founders for as long as it takes to build a sustainable business. The upside from our investment goes toward supporting other entrepreneurs and Rainmatter," Kamath said in the tweet.
The bootstrapped stock broking firm's blog post also said that as Zerodha steadily grew profitable, so did its allocation to Rainmatter from it. "While we started out by backing tech entrepreneurs who were helping people do better with their money, it has now extended to those helping people make healthier choices, getting educated, and those who are working on the much harder problems of climate change and creating livelihoods," read the blog post.