InCred Money acquires Stocko, forays into retail broking

Fintech firm InCred Money, the retail wealth tech investment distribution arm of InCred Group, on Monday said it plans to acquire South Asian Stocks Limited (SASL), which operates under the brand name Stocko.

Following regulatory approvals, the trading platform will be rebranded as InCred Stocko and integrated into InCred Money, the group's digital wealth and investment platform, the company said in a statement.

While the deal size remains undisclosed, The Economic Times reported it to be an all-cash transaction worth $35 million (Rs 300 crore).

“India’s investing ecosystem is evolving rapidly. Stocko gives us a proven platform with serious volume, and we’ll bring our tech, capital, and customer-first mindset to unlock its full potential,” said Bhupinder Singh, Founder and Group CEO of InCred.

Stocko claims to clock a daily notional turnover of around Rs 1 lakh crore, making it one of the most active discount brokers in India.

This acquisition will help the fintech major expand its presence in the retail broking sector, with offerings in equities and derivatives trading. At present, InCred Group offers a full-stack financial ecosystem, spanning lending, asset and wealth management, capital markets, and retail investing. 

Founded in 2013, Delhi-based Stocko serves active traders and retail investors, with trading services across equities, derivatives, commodities, and currencies. The platform charges a flat rate of Rs 12.99 per order and, for frequent traders, Stocko provides a subscription option that reduces trading costs to Rs 2.99 per order.

“This is a massive leap forward for us. With InCred’s backing, we’ll scale faster, innovate harder, and roll out smarter products—from enhanced margin funding to sharper tech. Our goal is simple: to become one of India’s top 20 brokers in the next two years, and top 10 brokers in 4-5 years,” said Shrey Jain, CEO of Stocko. 

Founded in 2016, InCred Group operates through three divisions: InCred Finance for NBFC lending, InCred Capital for institutional and high-net-worth individual wealth services, and InCred Money, which provides retail investment products including fixed deposits and alternative investments.

InCred Finance entered the billion-dollar valuation unicorn club two years ago as it raised $60 million in its Series D funding round from high-net-worth individuals. 

Last year, Bloomberg reported that InCred Financial Services is considering an initial public offering (IPO) to raise around $470 million. The Mumbai-based company, which has KKR & Co. as a partner, is reportedly in discussions with potential advisers, including IIFL Securities, Kotak Mahindra Bank, and Nomura Holdings for the IPO.