InCred Money, the retail wealthtech arm of the InCred Group, is making a significant move into the retail broking sector with its proposed acquisition of discount broker Stocko, operated by South Asian Stocks Limited (SASL). The deal, valued at approximately Rs 300 crore, is currently pending regulatory approval and, once completed, will see Stocko rebranded as InCred Stocko and integrated into InCred Money’s digital-first investment platform.
This acquisition marks InCred Group’s formal entry into retail broking, expanding its suite of offerings to include equities and derivatives trading for retail investors, alongside its existing products such as fixed deposits and alternative investments.
Stocko, founded in 2013 as SAS Online, has established itself as a trusted name among active traders and retail investors by providing trading across equities, derivatives, commodities, and currencies on major Indian exchanges like NSE, BSE, and MCX. The platform is known for its flat-rate pricing model of Rs 12.99 per order, with a subscription option for high-volume traders that can reduce costs to as low as Rs 2.99 per order. Stocko boasts an impressive daily notional turnover of around Rs 1 lakh crore, highlighting its scale and market presence.
Bhupinder Singh, Founder and Group CEO of InCred, emphasised that the acquisition of Stocko provides InCred Money with a proven platform that already handles significant trading volume. The company plans to leverage its technology, capital, and customer-first approach to unlock further potential. Shrey Jain, CEO of Stocko, will continue to lead the Stocko team under the InCred banner, ensuring operational continuity and a focus on innovation. Jain highlighted that InCred’s backing will accelerate the rollout of smarter products, including enhanced margin funding and advanced trading technology, to position InCred Stocko among India’s top 20 brokers within two years and in the top 10 within four to five years.
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The transaction reflects the increasing trend of consolidation in India’s fintech and wealth management sectors, as companies strive to offer full-stack financial services that span lending, wealth management, capital markets, and retail investing. InCred Group, which achieved unicorn status in December 2023 following a $60 million Series D funding round, continues to strengthen its position as a diversified financial services platform with this strategic acquisition. The addition of Stocko fills a key gap in InCred’s product suite and reinforces its commitment to building a robust, technology-driven ecosystem for digital-first retail investors.
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