MarketWolf, a FinTech stock trading platform, has raised $10m from a Series A fundraise led by Jungle Ventures and Dream Capital.
Exisiting investors in the round include 9Unicorns, iSeed, Riverwalk and Crescent. This brings the total raised by the company to $17.4m.
To date, MarketWolf has over 1.5m app downloads in India in the last 18 months. The app aims to make the trading experience as easy and jargon-free as possible while ensuring protection against market volatility through its robust in-built risk management system, practice and learn modules and low-ticket size investment options.
MarketWolf intends to use the newly raised capital to build out its product suite and to hire top talent across product, marketing and engineering functions.
MarketWolf CEO and founder Vishesh Dhingra said, “While building an easy and appealing user experience for anyone to trade well in stock markets, we saw the early adoption from mobile gamers. Today, we are at the intersection of two of the most popular and hyper-growth verticals in the new world – stock trading and mobile gaming – both sharing elements of high engagement, excitement, and experiential learning. With risk management at its core, MarketWolf is fast becoming the go-to stock trading platform for the mobile gaming generation, who likes to explore new and more immersive ways of doing things.
“We are extremely proud to partner with Jungle Ventures, Dream Capital and all our investors in our mission to create a global community of MarketWolves. With the average retail stock holding period going down from 8 years to 8 months over the past few decades, we believe that in future, there will be fewer Bulls or Bears and more MarketWolves – people who given the right tools, can capitalize on the latest market opportunities by adjusting their trading styles along with the change in market conditions.”
Xelix, a London-based accounts payable FinTech that is looking to transform finance departments, recently raised $5m in Series A funding.
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