Lending and wealth service provider InCred Money is set to acquire trading platform Stocko for Rs 300 crore ($35 million). As per report, Stocko will be renamed InCred Stocko after the process is completed. However, the deal is not yet approved by regulators. Stocko offers trading in stocks, options, commodities, and currencies, with a daily turnover of Rs 1 lakh crore. The company’s team, led by Shrey Jain, will continue after the merger. InCred plans to integrate Stocko with its current services. InCred Money is part of InCred Group, which also runs lending and wealth services.
The Bhupinder Singh-led Incred achieved unicorn status after raising $60 million in a Series D round from new and existing investors in December 2023. This platform was the first to report this development. A report suggested that InCred aims to raise Rs 4,000-5,000 crore ($471-588 million) through its IPO, at a valuation ranging between Rs 15,000 crore and Rs 22,500 crore, a price of Rs 225 to 325 a share. The company is reportedly targeting a listing in the last quarter of 2025. The InCred Group operates three entities: InCred Finance, InCred Capital, and InCred Money. In FY24, the group’s revenue from operations grew by 48% to Rs 1,267 crore. It also reported a profit after tax (PAT) of Rs 316 crore in the last fiscal year.
ABOUT STOCKO
Stocko is a seed company based in Delhi (India), founded by Shrey Jain. It operates as a Broker-based online trading and investment platform. Stocko has raised $38.7K in funding, with a current valuation of ₹2.2Cr. The company has 229 active competitors, including 21 funded and 14 that have exited. Its top competitors include companies like Groww, Angel One and Upstox. Stocko is the most accurate, structured and complete b2b marketplace for fabric stocks, where brands and other companies can find the exact fabric that they are looking for, using advanced and comprehensive search parameters.