MARKETWOLF RAISES $10 MILLION IN A FUNDING ROUND LED BY JUNGLE VENTURES AND DREAM CAPITAL
Stock trading platform MarketWolf has raised $10 million in a Series A funding round and plans to use the raised fund to build its product suite and hire employees. The funding round was led by Jungle Ventures and Dream Capital on Tuesday.
Existing investors, including iSeed, 9Unicorns, Crescent, and Riverwalk also took part in the round. MarketWolf raised $17.4 million from external funding till now.
WHAT MARKETWOLF DO
In 2017 Vishesh Dhingra and Thomas Joseph found a Mumbai-based startup MarketWolf.
It aims to use its in-build risk management system to simplify investing for beginners.
The business model of MarketWolf is based on the philosophy of making investment secure, less complex, and accessible to new investors. They help people learn about financial markets.
WHAT MANAGEMENT HAS TO SAY
Vishesh tells that the aim of the platform is to help people make profits, or at least minimize the extent of losses. It encourages the use of its built-in risk management feature to perform a multitude of actions that can help prevent losses, such as setting mandatory target risk/reward levels and investing only in liquid instruments, among others.
“Any feature that gets added in the app has to pass the litmus test of contributing either towards increasing the chances of a trade making profits or minimizing the chances of a trade incurring losses,” Vishesh says.
HOW IT EARNS REVENUE
Startups, like all other brokerage firms, earn money from the fees they charge to execute transactions. However, according to MarketWolf, brokerage fees are only charged for profitable transactions. If the transaction closes, the brokerage fee will be zero.
FEATURES OF PLATFORM
Users can now invest in equities, index ETFs and derivatives, currency derivatives, and commodity derivatives.
Vishesh says the platform not only adds more trading and investment options but also adds ways for people to learn about financial markets in a fun way. To date, startups have opened over 500,000 trading accounts, an increase of almost 90% in 12 months. Over 1.5 million users have downloaded it.
Competitors in this area include RAIN’s Trading Rooms, Smallcase, and Paytm-based company Wealth Basket.