Singapore-based MarketWolf is a stock trading-first platform for new financial backers
- July 5, 2022
Live in India, Singapore-based MarketWolf has plans to acquaint stock trading with first-time financial backers in more markets. The platform declared today it has brought $10 million up in Series A funding led by Singaporean funding firm Jungle Ventures and Mumbai-based Dream Capital. Returning financial backers 9Unicorns, iSeed, Crescent and Riverwalk likewise partook.
This brings MarketWolf’s complete raised to $17.4 million since it was established in 2017 (it sent off in India in 2020). The new funding will be utilized to construct product suite and on hiring for its product, marketing and engineering teams.
MarketWolf needs to making trading accessible to first-timers with low minimum investment amounts and a risk management system, as well as modules for practicing and finding out about effective financial planning. They can invest in options, futures, ETFs and stocks, beginning at $5. The vast majority of its clients are in the 18 to 35 year old age bracket.
MarketWolf’s risk-management features incorporate setting compulsory risk and reward levels, posting just liquid instruments, preventing selling of options to keep away from unlimited risk and its practice and learn module.
Established by Vishesh Dingra and Thomas Joseph, MarketWolf says it has seen over 1.5 million app downloads in India over the last 18 months and that its number of trading accounts and retail active clients have developed 10x year-over-year. It was listed among the top 15 dealers regarding trades by India’s National Stock Exchange (NSE) in 2021.
Before co-founding MarketWolf, Dingra worked at Merrill Lynch and Barclays Capital, building quantitative models and procedures for algorithmic trading in capital markets.
He and Joseph wanted to launch an investment app because “we saw that existing products were focused on investing for long-term only, and short-term trading was overlooked. Thomas and I have worked at trading desks in Merrill Lynch, Morgan Stanley, etc. and understood that there could be an easier, more engaging and risk-managed way of trading made available to people globally.”
The startup is among various investment apps situated in Southeast Asia that have raised funding–and are continuing to raise). Directly over the course of the last month, wealth management platform PINA, Indonesian crypo trading app Pintu and Vietnam’s Anfin, likewise for first-time financial backers, have all raised investment.
Dingra said MarketWolf separates from other investment applications with its gamified interface (large numbers of its clients come from mobile gaming communities) and a trading-first methodology.
“Most brokerages in the market are investment-first products, whereas MarketWolf is a trading-first product creating its own new market segment—people who can trade well in all market conditions, bullish, bearish, flat or volatile,” he said.
In a prepared statement, Jungle Ventures head Arpit Beri said, “Retail participation in the stock market in India continues to remain abysmally low at ~3-5% and we believe that MarketWolf has the right product, as well as the right team and expertise to break-through this market.”