Trade And Invest: The StockGro Way

StockGro is a social investment platform that aims at helping young investors master the art of trading and investment. During his conversation, Ajay Lakhotia, Founder and CEO, StockGro shares his company’s mantra to steer clear of obstacles even when the tides are against us.

What did you do differently in the last 12 months to tackle the uncertain times for Indian startups?

One key aspect has been to maintain a healthy cash flow by being conservative with our expenses and focusing more on generating revenue. We realise the importance of retaining existing users by improving our products, providing excellent customer support and offering incentives to keep them engaged.

Our brand campaigns have been super sharp in their messaging and reaching the target audience through social media. We have doubled down on our offline initiatives and on-ground engagement.

What was your company’s leadership mantra that made you better than your peers?

Our mantra has been to be bold, innovative, and inclusive. We're not afraid to take risks and try new things, but we also know when to pivot or cut our losses if something isn't working. Our leadership team has always been laser-focused on our mission and values. We're here to empower people to take control of their financial futures and democratise access to the stock market.

Tell us about your current funding status and your plans for the next fundraiser.

As of now, StockGro has raised USD 40 million. Our plan is to raise an additional USD 50 million by the end of 2023, which will help us scale our operations, invest in new technologies, and innovate in the virtual stock trading app market.

Share some of the early-stage challenges you faced in your journey.

Just as we were getting started, the pandemic hit, and we found ourselves in dire need of initial funding. We realised we had to bootstrap the startup and assemble a small but mighty team to launch the business within six months. The next challenge we faced was creating a product that would resonate with our target audience and provide a unique value proposition.

What are your plans for 2023 and the areas of investment in the year ahead?

We plan to launch new features enabling our users to invest in a wider range of financial products, including mutual funds, gold, futures and options, and bonds. Another area of focus for us is international expansion. Overall, our growth strategy is focused on delivering value to our users through innovation and investment in technology.