Stock Market Information Platform Market Pulse Raises $750k in Pre-Series A Round
The company stated it will use the funds to triple its current active user base of 2.25 lakh in the next 18 months, invest in technology to enhance its core trading platform, kickstart branding and marketing initiatives and expand its team from 30 to 100 people
Fintech startup Market Pulse on Wednesday announced that it has raised USD 750,000 (INR 5.5 crore) in pre-Series A funding round.
The investors who participated in the round include Ameet Desai, former CFO of Adani Group, Aditya Goel, director of online trading platform Securcap, Rashmi Kwatra, founder of Singapore-based hedge fund Sixteenth Street Capital and MD and CEO of BNP Paribas India Umasankar Nistala.
Founded in 2016 by Hiral Jain and Amit Dhakad, Market Pulse through its app provides real-time data for National Stock Exchange (NSE) and Multi Commodity Exchange (MCX), watchlists and alerts, technical analysis and insights to investors and traders.
The Mumbai-headquartered trading platform claims to help its users navigate through and profit off financial markets and aims to level the playing field for traders and investors, to make real-time data and insights accessible to everyone.
“Building a trading platform is a complex business and Market Pulse, in just a few years, has demonstrated its success and sustainability. The investment market is set to grow and Market Pulse is at the helm to nurture both the seasoned investor and those entering the field for the first time, giving them the right tools, knowledge, skills and support to make smarter decisions and better profits," said Aditya Goel, Director, Securcap, UK.
Market Pulse app has 2 million downloads and daily active user base of 2.25 lakh. The company plans triple its active user base in the next 18 months with the fresh capital.
The company stated it will also use the funds to invest in technology to enhance its core trading platform, kickstart branding and marketing initiatives and expand its team from 30 to 100 people.
“We’ve been a profitable, sustainable business; our fundraise at this stage is to help grow our technology platform, and invest in branding to be able to attract the best tech talent there is. We are pleased to have the support of strategic investors on our journey. Our aim is to build the future of trading and become the de facto trading platform in India,” said co-founder and CEO Dhakad.
Market Pulse had last raised undisclosed seed capital from Lead Angels Network in 2017.