MarketWolf is a first trading platform for new investors – TechCrunch

Living in India, Singapore-based MarketWolf plans to introduce stock trading for new investors to more markets. The platform announced today that it has raised $10 million in Series A funding led by Singaporean venture capital firm Jungle Ventures and Mumbai-based Dream Capital. Returning investors 9Unicorns, iSeed, Crescent and Riverwalk also participated.

This brings MarketWolf’s total raised to $17.4 million since its inception in 2017 (it launched in India in 2020). The new funding will be used to build a suite of products and to hire its product, marketing and engineering teams.

MarketWolf wants to make trading accessible to beginners with low minimum investment amounts and a risk management system, as well as modules to practice and learn how to invest. They can invest in options, futures, ETFs, and stocks starting at $5. Most of its users are in the age bracket of 18 to 35 years old.

MarketWolf’s risk management features include setting mandatory risk and reward levels, listing liquid-only instruments, preventing option writing to avoid unlimited risk, and its practice and learn module.

Founded by Vishesh Dingra and Thomas Joseph, MarketWolf claims to have had over 1.5 million app downloads in India in the last 18 months and its number of trading accounts and active retail customers has increased 10 times. from one year to the next. It has been ranked among the top 15 brokers by trades by the National Indian Stock Exchange (NSE) in 2021.

Prior to co-founding MarketWolf, Dingra worked at Merrill Lynch and Barclays Capital, creating quantitative models and strategies for algorithmic trading in capital markets.

He told TechCrunch that he and Joseph wanted to launch an investing app because “we saw that existing products focused on long-term investing only, and short-term trading was neglected. Thomas and I worked at trading desks in Merrill Lynch, Morgan Stanley, etc. and realized that there could be an easier, more engaging, and risk-managed way to trade available to people around the world.

The startup is one of a number of Southeast Asia-based investment apps that have raised funds – and continue to raise). Just over the past month, wealth management platform PINA, Indonesian crypto trading app Pintu and Vietnam’s Anfin, also for new investors, all raised venture capital.

Dingra said MarketWolf differentiates itself from other investment apps with its fun interface (many of its users come from mobile gaming communities) and a trading-focused approach.

“Most brokers in the market are investment-oriented products, while MarketWolf is a trading-oriented product creating its own new market segment – people who can trade well in all market conditions, bullish, bearish, stable or volatile,” he said.

In a prepared statement, Jungle Ventures Director Arpit Beri said, “Retail equity market participation in India continues to remain extremely low at around 3-5% and we believe MarketWolf has the right product, as well as the right team and expertise. to break into this market.

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