Trendlyne intends to use the funds to launch new products, expand its team, and expand geographically
The early-stage investing vehicle of India Infoline Finance Group, IIFL Fintech Fund, led the $1.8 million Series A investment round in analytics firm Trendlyne.
With its second investment in the analytics platform, IIFL Securities, one of the firm’s founders, now owns a majority stake.
Trendlyne intends to use the funds to launch new products, expand its team, and expand geographically.
IIFL, through its subsidiary IIFL Securities, acquired a 6.25 percent stake in Giskard Datatech Pvt. Ltd, the company that operates Trendlyne, in September 2020, increasing its stake in the market data platform to more than 20 per cent.
In November 2018, IIFL Securities paid an undisclosed sum for a 15 per cent stake in the market analytics firm.
However, the IIFL Fintech Fund was established in 2021 with a Rs 140-crore sponsorship from two IIFL Group companies, IIFL Securities and IIFL Finance. Leegality, FinBox, DataSutram, Multipl, Finarkein, TrustCheckr, EasyRewardz, and Open Financial Technologies are among its other investments.
Trendlyne, led by Amber Pabreja, is a Business-to-Business and Business-to-Consumer platform with approximately one million registered users. Stock scores, screeners, backtesting, stock insights, and some forward-looking products are among the key offerings available on its website and mobile application.
Categories: Other News