threedots, community investing platform catering at millennials, announced on Wednesday that it has raised $4 Mn in a seed funding round led by Kalaari Capital. Apart from Kalaari, Better Capital, iSeed, Cloud capital and host of high-profile angel investors also participated in the round.
The high-profile investors who participated in the round includes Kunal Shah (Cred), Lalit Keshre (Groww), Jitendra Gupta (Jupiter), Amrish and Sweta Rau (Pine labs), Ramakant Sharma (Livspace), Rohit MA (cloud9), Giri Malpani (Malpani Family) and Mohit Daga.
threedots was founded in March 2021 by Rishu Garg, Prakhar Bhardwaj and Akul Agarwal who are BITS Pilani alumni and also ex-employees of Grow. The Tiger global backed Groww is also an investment platform that became unicorn last year. But unlike threedots, Groww is not an community driven investment platform.
The startup was founded on the premise that most of the millennials seeking to make stock market investment are clueless and confused. They often make investment mistakes owing to lack of access to institutional level experts and resources. threedots is seeking to bridge this gap by bringing the young millennial investors and investment experts under one platform.
Apart from bridging the gap between market experts and millennial investors through its finance centric community, the threedots app also offers daily dose of financial news to its users.
To sharpen its financial news and expert advice, threedots has joined hands with other platforms like Grow, Coindcx, and Finshots.
Rishu Garg, Co-founder, threedots, said, “Our vision is to make threedots the next-gen community investment platform where people can learn, discuss & invest all at one place. Our goal is to shape and empower the investment ecosystem in India.”
“We want to change the financial life of the next 100 mn users in India who will be using financial services for the first time and help them create wealth. At threedots, we always practice & believe in hyper trust – within our users & our team, which was missing in the industry for so long.”
According to a rough estimate, India had roughly 14 Mn demat account holders, which meanly only 3% Indians invest in the capital. But this figure is expected to reach 15% in 2030.