InCred Money to Acquire Stocko, Launching Retail Broking Arm
The deal expands InCred’s services into equities and derivatives trading as part of its push toward a full-suite financial ecosystem.
Overview
- The all-cash transaction is valued at about $35 million and represents InCred Money’s first major move into India’s discount broking market.
- Stocko processes roughly Rs 1 lakh crore in daily notional turnover and offers flat-rate pricing of Rs 12.99 per trade alongside a Rs 2.99 subscription plan for active traders.
- Once regulatory approval is secured, the platform will operate under the InCred Stocko brand and integrate equities, derivatives, commodities and currency trading into InCred Money’s digital wealth arm.
- InCred Group plans to leverage Stocko’s technology and customer base to reinforce its end-to-end financial ecosystem spanning lending, asset management and retail investing.
- Stocko CEO Shrey Jain aims to position InCred Stocko among India’s top 20 brokers within two years and break into the top 10 within four to five years.