“Kotak Securities, a subsidiary of Kotak Mahindra Bank, has entered into an agreement with Kredent InfoEdge (KIPL) on July 6, 2021, for the investment of ₹ 10 crores for a 9.96 percent in the total share capital of KIPL,” Kotak Mahindra Bank said in a filing to the stock exchanges. KIPL plans to use the fresh funds as part of growth capital to drive marketing efforts, scale up the e-learning and fintech business, and enhance technology offerings.
KIPL is a financial technology company, focusing on training people through learning and analytics platforms. The company offers three brands – elearnmarkets.com (e-learning platform focusing on training users), StockEdge (research & analytics platform for stock market investors), and StockEdge Club (social marketplace platform for investors and traders). It had a turnover of ₹ 14.1 crores (Rs 141 million) in the financial year 2020-21.
Kredent currently serves over two million users and is looking to scale the user base to 10 million. It is planning to launch its social investing platform, along with a transaction engine that will host multiple intermediaries.
Shripal Shah, President, and Key Leadership Team member, Kotak Securities said, “We have seen the potential of StockEdge and elearnmarkets.com, and partnering with such firms will be part of our core strategy of providing a differentiated experience to our customers. We are seeing that more and more millennials are entering the capital markets and financial education becomes very important to serve them well.”
Vivek Bajaj, Co-Founder & Director, StockEdge & elearnmarkets.com, said, “We are excited to have Kotak Securities onboard as one of our Investors. We share a common philosophy of empowering retail investors through the right knowledge. As financial markets in India expand to real Bharat, we are perfectly positioned together to cater to the 360 degree needs of new Investors in India.”
Elearnmarkets is a financial education platform in India with over one million learners, and more than 200 market experts hosting finance courses in multiple languages. StockEdge is a stock analytics platform with over one million active users.