Smallcase Investor

A smallcase is a ready-made basket of stocks, ETFs or mutual funds, built by a SEBI-registered manager and credited directly to your Demat account through your existing broker.

Investors link their broker account, place one order to buy everything in the right proportions, and can track and modify the smallcase anytime.

Retail investors who choose from themed portfolios of stocks and exchange-traded funds (ETFs) rather than picking individual stocks.

smallcase runs a free, self-service content hub with guides, articles and calculators (SIP, RD, EMI and more) covering investing basics through advanced strategies, positioning the day-to-day relationship as informational and self-directed rather than one-on-one advisory.

Investors reach smallcase and its regulated group entities via dedicated support email/phone lines, and each SEBI/AMFI-registered entity names a specific grievance officer for complaint escalation — e.g. the parent company routes grievances to Rahul Das.

When a manager rebalances a smallcase, investors are proactively notified by email, push and in-app alert and must actively review and apply (or skip) the change themselves, keeping the relationship consent-driven rather than automatic.

smallcase supports India's top brokers, including Zerodha, Groww, Upstox, HDFC Securities, ICICI Securities and more, so investors transact through their existing broker/Demat account.

The Company provides technology solutions and related back-end infrastructure to SEBI registered intermediaries and other third parties for facilitating subscriptions & transactions in smallcases.

The Company is only a technology provider and is not an intermediary in terms of the applicable SEBI regulations, and does not provide any research recommendations or advice on its own.

smallcase's group entities hold the regulatory registrations needed to operate across research, advice, distribution and insurance — Windmill Capital holds SEBI Research Analyst and Portfolio Manager licenses, Essential Investment Managers holds a SEBI Investment Adviser registration and an IRDAI corporate agent license, and Anchorage Technologies holds an AMFI Mutual Fund Distributor registration.

smallcase was founded in July 2015 by three IIT Kharagpur graduates and has grown into a 350+ person team of finance professionals, engineers and designers based in Bangalore.

smallcase's balance sheet is backed by institutional investors including Sequoia Capital India, Blume Ventures, Amazon, Premji Invest and HDFC, plus individual backers such as Nithin Kamath (Zerodha) and Hemendra Kothari (DSP Group).

The Company has partnered with multiple SEBI-registered brokerage firms for transactions in exchange-traded securities.

The Company has partnered with various AMCs in its capacity as an AMFI-registered Category 1 EOP.

smallcases are created by SEBI-registered entities like Investment Advisors & Research Analysts, who act as the investment managers on the platform.

A transaction fee of ₹100 (up to 1.5% of the investment) applies to lump sum investments in new or existing smallcases; SIPs are charged ₹10 (capped at 1.5% of the transaction amount).

Transaction fees collected from brokers accounted for 85.8% of total revenue in FY24, spiking 2.6X to Rs 57.8 crore.

Revenue from research service fees and other ancillary services stood at Rs 5.1 crore and Rs 4.5 crore respectively in FY24.

Cost of technology along with legal-professional and other overheads catalyzed Smallcase's overall expenditure by 34.35% to Rs 176 crore in FY23 from Rs 131 crore in FY22.

FY24's reduction in total expenses to Rs 108 crore was driven by a 75.8% drop in advertising and a 15.7% drop in employee benefits.