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InCred Money, the retail wealthtech investment distribution arm of the InCred Group, is set to venture into retail broking with its proposed acquisition of South Asian Stocks Limited (SASL), which operates as Stocko.
Following the acquisition, Delhi-based Stocko will be rebranded as InCred Stocko, subject to regulatory approvals. InCred Money will absorb the Stocko team into its fold.
However, the financial details of the deal remain undisclosed.
The acquisition will mark InCred Group’s entry into retail broking, expanding its offerings to include equities and derivatives trading.
With this deal, InCred Group aims to build a financial ecosystem that includes lending, asset and wealth management, capital markets and retail investing, backed by advanced technology.
InCred’s founder and group chief executive Bhupinder Singh said, “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.”
Founded in 2013 as a broking platform for active traders and retail investors, Stocko offers trading across equities, derivatives, commodities and currencies, with an economical subscription plan starting as low as INR 2.99 per order.
(The story will be updated soon.)
The post InCred Money Forays Into Retail Broking With Stocko Acquisition appeared first on Inc42 Media.
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