MarketWolf, an ‘intra-day options only’ trading app, has bagged US$5.5 million in a fresh round of seed funding from a slew of high-profile individual investors.
These individuals hold senior positions in renowned PE firms, investment funds, fintech and consumer internet startups. Among them are Anil Thadani, Ashutosh Sinha, Roy van Leeuwen, Tomas Urbanec, Anuj Srivastava and Ramakant Sharma.
The startup will use the new funding to build new products, expand its user base and attract top talent.
Vishesh Dhingra, founder and CEO of MarketWolf, said: “We aim to create a global community of MarketWolves – people who learn psychology, knowledge and tools to trade well in all market conditions and train each other to become better traders. In an industry that has been largely categorised into only bulls and bears, MarketWolves will be a worthy addition.”
The company was started in 2017 by Vishesh Dhingra (CEO) and Thomas Joseph (COO). MarketWolf helps people interested in short-term trading by simplifying the trading experience, removing unnecessary jargon and complexities associated with options, and educating them while protecting their capital with built-in risk features.
The firm does not give tips; instead, it “creates the right conditions and ecosystem for users to make better trading decisions”. The startup charges brokerage only when a trade makes a profit.
India is MarketWolf’s first market where its trading accounts increased by 4x, and monthly active users multiplied to 10x over the last few months. The company claims it has clocked over one million app downloads (Android and iOS) so far.
MarketWolf earlier raised US$1.7 million in angel funding and has raised a total of US$7.2 million to date.
Besides Singapore, the firm has offices in Mumbai, India.
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