MarketWolf, a fintech stock trading startup, announced on Tuesday that its Series A fundraising round, which was headed by Jungle Ventures and Dream Capital, the corporate venture capital and acquisitions arm of Dream Sports, raised $10 million (about Rs 79 crore).
MarketWolf intends to use the funds to expand its product line and acquire the best personnel for its engineering, marketing, and product departments.
According to a release from MarketWolf, the investment round was joined by current and new investors, including 9Unicorns, iSeed, Crescent, and Riverwalk. Since its founding, the startup has raised $17.4 million.
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MarketWolf, a company founded in 2017 by Vishesh Dhingra and Thomas Joseph, caters to novice investors by making trading simple and free of jargon. According to the business, it only charges brokerage fees on profitable transactions, enabling customers to better manage risks and make trading decisions regardless of market conditions.
Vishesh Dhingra, founder & CEO of MarketWolf, said that the app 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.”
Arpit Beri, Principal at Jungle Ventures said that “retail participation in the stock market in India continues to remain abysmally low at 3-5% and MarketWolf can help change that. The company has already demonstrated tremendous stickiness and virality with its consumers and we are excited to be a part of their next stages of growth”.
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Dev Bajaj, who leads Dream Capital as the chief strategy officer for Dream Sports, said that disruptive gamification will happen across business-to-consumer (B2C) and MarketWolf is leading this effort in fintech.
MarketWolf provides everyone an opportunity to begin their trading journey with a unique digital platform that is bold, simple and fun. Trade In Any Market – Up or Down Currencies | Stocks | Indices | Commodities #AnyoneCanTrade on #MarketWolf