By Mr. Abhay Ray 
Introduction
In recent years, India’s fintech sector has experienced a transformative boom, driven by rapid digital adoption, evolving regulatory frameworks, and a rising appetite for alternative investment avenues. At the intersection of innovation and financial opportunity stands Stockify, a Bengaluru-based startup that has quietly emerged as a key player in the unlisted and pre-IPO investment space.
Unlocking an Untapped Market
Founded in early 2022, Stockify was established by a group of finance and tech professionals who recognized the inefficiencies and opacity in India’s unlisted equity market. Traditionally, this segment was accessible only to insiders or those within tight-knit financial circles. Stockify aimed to democratize access by building a digital-first, transparent, and compliant platform for investing in private companies poised for substantial growth.
Operating in a niche but rapidly growing domain, Stockify offers access to shares of high-potential companies that are yet to be listed. These include notable names such as OYO, Swiggy, Boat, and the National Stock Exchange—firms with multi-billion dollar valuations that attract interest from both domestic and global investors. The platform’s success reflects a broader shift among modern investors—especially High Net-Worth Individuals (HNIs) and Non-Resident Indians (NRIs)—who are looking beyond traditional assets for early entry into India’s vibrant startup ecosystem.
Rapid Growth and Global Reach
They began as a three-member startup and has quickly scaled into a 30+ employee operation with over 3,500 clients globally. The platform now receives more than two million annual visitors, a significant jump from just 100,000 two years ago. Financially, Stockify closed FY 2023–24 with a topline of ₹85 crore (~USD 10 million) and projects doubling it to ₹200 crore in the current fiscal, with a further goal of reaching ₹500 crore by FY 2025–26.
While the company’s client base remains predominantly Indian (94%), there is a growing international footprint, with investors from the UAE (5%) and other regions (1%). With operational offices in Bangalore, Kolkata, and Dubai—and expansion plans targeting the U.S.—Stockify is rapidly building a global presence.
Visionary Leadership and Conservative Capital Strategy
Behind Stockify’s fast-paced growth are its co-founders: Piyush Jhunjhunwala, CEO, and Rahul Khatuwala, head of Indian operations. Jhunjhunwala brings over two decades of experience from multinational giants like PepsiCo, Reckitt Benckiser, and Coty Inc. Khatuwala, who has completed the NISM certification, commands a strong professional network of 5,000+ chartered accountants and finance experts. Their blend of global insight and local execution has been instrumental in shaping Stockify’s strategy and credibility.
Uncommonly for a fintech startup, Stockify has adopted a bootstrapped approach. While many Indian startups burn through venture capital to chase scale, Stockify has focused on profitability and long-term sustainability. This conservative financial model has allowed it to grow organically, reinvesting revenue into expanding services, infrastructure, and talent.
Entering Regulated Finance with AI and AIF
One of Stockify’s most ambitious moves is its foray into regulated financial services via the SEBI Alternative Investment Fund (AIF) route. Once the license is granted, the company plans to launch a new vertical—Stockify Wealth Management—targeting ₹500 crore in assets from ultra-HNI investors within two years.
This vertical will offer more than just unlisted shares. It will provide AI-driven advisory services across financial instruments such as mutual funds, bonds, and insurance-linked products. Additionally, Stockify aims to leverage India’s GIFT City initiative—a financial hub designed for global investors looking to invest in Indian markets without currency exchange hurdles.
Technology, Transparency, and Trust
Stockify’s platform is built to offer a seamless, end-to-end investment experience—from discovery and analysis to execution and compliance. The company distinguishes itself through deep due diligence, curated listings, and a strong emphasis on investor education. By collaborating only with SEBI-registered intermediaries, Stockify ensures that every transaction is both compliant and secure.
“While interest in private markets is growing, many investors hesitate due to concerns about valuation, compliance, and transparency,” says one of the co-founders. “Our goal is to simplify this space and empower investors with reliable, easy-to-understand tools.”
Building Ethically and Inclusively
Beyond its business model, Stockify also stands out for its internal culture and corporate responsibility. Approximately 80% of its workforce is female, and its CSR efforts focus on empowering women and education. One such initiative supports ‘Maja Ghar,’ a housing facility for the underprivileged in Pune.
Market Outlook and Future Role
According to a 2024 PwC India report, India’s unlisted securities market is valued at over ₹75,000 crore and is expected to grow at a CAGR of 8–10% over the next five years. As more startups defer public listings in favor of extended private funding rounds, demand for pre-IPO access is likely to surge.
Stockify is well-positioned to capitalize on this trend. As India’s fintech ecosystem matures—projected to reach USD 1.5 trillion in AUM by 2030—platforms like Stockify could play a pivotal role in reshaping wealth creation strategies. With its focus on compliance, technology, and investor trust, Stockify may serve as a blueprint for how digital platforms can engage responsibly with India’s evolving capital markets.
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