Fintech startup MarketWolf raises $ 10 million in Series A financing to democratize stock trading

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Fintech start-up of stock trading MarketWolf has raised $ 10 million in Series A financing led by Jungle Ventures and Dream Capital. Existing investors and others, including 9Unicorns, iSeed, Crescent and Riverwalk, also participated in the round.

The start-up claims that with this fresh capital injection, the total capital raised by the company reached $ 17.4 million since the start-up.

MarketWolf intends to use this new round of funding to expand the product package and hire top talent across product, marketing and engineering functions.

MarketWolf was founded by Vishesh Dhingra and Thomas Joseph, to democratize the trading ecosystem with the vision of “Everyone can shop”, and claims to have over 1.5 million downloads of apps in India in the last 18 months.

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Targeted at first-time investors, the app aims to make the trading experience as simple and jargon-free as possible while ensuring protection against market volatility through the built-in risk management system, practice and learning modules and low-ticket investment options. said the start-up in a press release.

It further said, based on this curated trading experience, the number of trading accounts and active private customers has grown 10X compared to the same period last year, despite the volatility in public capital markets this year.

MarketWolf was founded in 2017 by Joseph and Dhingra, and has offices in Mumbai, India and Singapore. Dhingra (CEO) and Joseph (CRO) with the vision “Anyone Can Trade”, MarketWolf claims to have become the leading stock trading app for mobile players.
Commenting on the fundraiser, Vishesh Dhingra, founder and CEO of MarketWolf, said: “While building a simple and appealing user experience for anyone who could trade well in stock markets, we saw early adoption by mobile players. Today we are at the intersection of two of the most popular verticals with high growth in the new world – stock trading and mobile gaming – both elements of high engagement, excitement and experiential learning.With risk management at its core, MarketWolf is fast becoming the preferred stock trading platform for the mobile gaming generation, which likes to explore new and more immersive ways of doing things. ”

Arpit Beri, Rector of Jungle Ventures so“” Retail participation in the stock market in India continues to remain eerily 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. With its highly intuitive and gamified user interface , together with managed risk controls, MarketWolf simplifies the trading experience and makes it the most suitable platform for young India to start trading like a pro.The company has already shown tremendous stickiness and virality with its consumers and we are happy to be a part of their next stages of growth. “

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According to MarketWolf, it was groundbreaking for the bold model of charging brokerage fees only on profitable trades. This model encourages startups to focus on building robust products and a favorable learning ecosystem, where users can manage risks and make better trading decisions in all market conditions.

Dev Bajaj, who heads Dream Capital as Chief Strategy Officer for Dream Sports so“We believe that disruptive gamification will take place across B2C. MarketWolf is leading this effort in fintech, and we are pleased to partner with them to democratize trade in India.”

According to MarketWolf, it was listed among the top 15 brokers in India in retail clients in the NSE in 2021. Going forward, the startup plans to launch more exciting products tailored to modern retail investors and mobile players, while reducing the inherent risk associated with public capital markets.