MarketWolf Secures $5.5 Mn Seed Funding MarketWolf aims to democratize trading worldwide and has experienced fourfold growth in trading accounts in the last four months in India
By Prabhjeet Bhatla •
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MarketWolf, an innovative "intra-day options only' trading app recently announced to have raised $5.5 million in a fresh round of seed funding largely from high profile individual investors who hold senior positions in globally renowned private equity firms, investment funds, fintech, and consumer Internet start-ups. Some of these investors include Anil Thadani of Symphony Asia; Ashutosh Sinha of Morgan Stanley Investment Management Singapore; Tomas Urbanec of Prudential Assurance Singapore; Roy van Leeuwen of Benelux, Auto1; Anuj Srivastava of Livspace and Ramakant Sharma of Livspace.
MarketWolf had raised $1.7 million during its angel round and has raised a total of $7.2million to date. This fresh funding will be utilized to build new products, expand the user base and attract top talent.
"This funding announcement is a significant step forward for all of us at MarketWolf, and a testament to the fact that our investors believe in our vision of democratizing trading worldwide. We believe "Anyone Can Trade' and are working towards demystifying the complex world of trading, starting with intra-day options. Our global ambitions are backed by a strong group of investors and an experienced, diligent team that is able to deliver under any circumstances," said Vishesh Dhingra, founder, and chief executive officer, MarketWolf.
MarketWolf launched in India as its first market and is experiencing exponential growth in all business metrics with trading accounts increasing by fourfold and monthly active users multiplying to tenfold over the last few months. MarketWolf, which is a licensed stockbroker in India has clocked over 1 million app downloads and is available on both Android and iOS.
"We feel very proud of the fact that on MarketWolf, over 60 per cent of trades have made profits for the users. Any feature that gets added in the app has to pass the litmus test of contributing either towards increasing the chances of trade making profits or minimizing the chances of a trade incurring losses. This is the reason we have aligned our business objectives with users making profits. Our aim is to create a global community of MarketWolves – people who learn psychology, knowledge, and tools to trade well in all 2 market conditions and train each other to become better traders. In an industry which has been largely categorized into only bulls and bears, MarketWolves will be a worthy addition," Dhingra added.
MarketWolf believes that there are a lot of good solutions available to people for long-term investments. However, for people who are interested in short-term trading, there may be limited protection available and they could end up making bad choices, especially as they are starting out their trading journey. MarketWolf helps these people by simplifying the trading experience, removing unnecessary jargon and complexities associated with options, and educating them, while protecting their capital with built-in risk management features.
