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Community investing platform threedots on Wednesday announced that it has raised $4 million in a seed round led by Kalaari Capital. The capital will be used for product development and expanding the team.
Better Capital, iSeed, Cloud capital, 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), Mohit Daga and others also participated in the round. The funds will be used to strengthen the product and expand the team.
Bengaluru-based threedots has a team of 30 and wants to touch 50 over the next few months. be 50-strong in the next few months.
The app platform was founded by ex-Groww employees Rishu Garg, Prakhar Bhardwaj and Akul Agarwal. The app offers users financial news and a finance-centric community apart from stock investing. It provides a platform for members to leverage the knowledge and experience of stock/crypto market experts.
Equity investments up
Rishu Garg, Co-founder, threedots, said, “Our vision is to make threedots the next-gen community investment platform where people can learn, discuss and 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 million users in India who will be using financial services for the first time and help them create wealth. At threedots, we always practise and believe in hyper trust - within our users & our team, which was missing in the industry for so long.”
Kiran Vasireddy, Partner at Kalaari Capital, Ex-COO Paytm, added, “Equity investments in India are expected to witness strong growth backed by the increased information access brought by platforms going digital. With current penetration only at 5 per cent, there is a huge opportunity for a platform to help millennials come and learn from financial influencers the art of investing. We are impressed with Rishu and the team’s strong experience in building consumer internet products and excited to partner with them in their journey as they build threedots for the world.”
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