News · 4 November 2026StockalUS stock investing app
Stockal investors allege unauthorised US stock sales
By Abha Lohia · Editor ·
Bengaluru
- Stockal is a Bengaluru fintech, registered with SEBI, that lets Indian retail investors buy US stocks and ETFs through partner brokers
- About 30 investors allege their accounts were accessed on October 15 and US holdings sold off, with losses above Rs 100 crore
- Another investor now says a relative lost around $1 million, while the regulator's reach over foreign equities is questioned
What happened
- About 30 investors allege unauthorised trades.
- Accounts were reportedly accessed on October 15.
- Alleged losses exceed Rs 100 crore.
Why it matters
- Holdings were allegedly sold without consent.
- A new complaint claims a $1 million loss.
- Oversight of foreign shares is unclear.
The business
- Lets Indians invest in US stocks and ETFs.
- Offers an app for funding, trading and tracking.
- Uses US clearing brokers to execute and hold assets.
In numbers
Rs 100 crore+Alleged losses · 2026
The numbers around it
Financial Services in November 2026: 4 rounds with a disclosed amount, $166 million in all; the biggest was OnEMI (₹832 Cr). Every sector this year →
Terms in this story
- SEBI: The Securities and Exchange Board of India (SEBI) is India's market regulator, set up in 1992. A startup meets it mainly through venture funds registered under the 2012 AIF rules, when it prepares an IPO, or when its product gives investment advice. A private startup raising from a few investors is first governed by the Companies Act.
- Fintech business model: Fintech startups in India earn in four main ways: a small fee on each payment, interest and fees on loans, commissions for selling insurance or investments, and subscriptions for software sold to banks and businesses. The number that matters most is the take rate, the share of each rupee processed that the company keeps.
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