IIFL Securities, a fully owned subsidiary of financial services firm IIFL Holdings, has acquired a 15% stake in the Bengaluru-based stock market analytics startup Trendlyne, as reported by Economic Times. The details of the deal remain undisclosed.
The funds raised will be used by Trendlyne to expand presence to international markets like the US, the UK and Canada.
The investment will help IIFL Securities to integrate certain Trendlyne features, in order to strengthen its investment solutions.
Trendlyne, owned and operated by Giskard Datatech, was founded by IIT Kanpur graduate Amber Pabreja and IIM Calcutta alumnus Devi Yesodharan in 2016. The startup offers a stock market investment and analytics platform for retail investors, analysts, fund managers, and advisors.
The platform offers real-time insights on stocks, to help investors understand investment trends.
Aniruddha Dange, Digital Strategy Head, IIFL Group said, that Trendlyne offers retail investors access to analytical tools – screeners, deep analytics, powering features like complex querying, backtesting, DVM scores, custom alerts and superstar portfolio.
Earlier in January 2018, Trendlyne raised $200,000 from ISME ACE, a fintech accelerator.