Existing investors and others including 9Unicorns, iSeed, Crescent and Riverwalk, also participated in the round, which brings the total capital raised by the company to $17.4 million since inception.
MarketWolf intends to use this fresh round of funding for building out its product suite and to hire top talent across product, marketing and engineering functions.
Vishesh Dhingra, Founder & CEO of MarketWolf, said with risk management at their core, they are fast becoming the “go-to stock trading platform for the mobile gaming generation, who likes to explore new and more immersive ways of doing things.”
Arpit Beri, Principal at Jungle Ventures, believed that MarketWolf has the appropriate product, as well as the right people and skills to break through this market.
Beri expressed their excitement to participate in the business’ upcoming stages of growth after witnessing the company’s impressive stickiness & virality with its customers.
Dev Bajaj, the Chief Strategy Officer for Dream Sports and the head of Dream Capital, stated they are also pleased to collaborate with MarketWolf to democratize trading in India as they are spearheading this fintech initiative.
MarketWolf invented the daring business strategy of only charging brokerage fees on successful trades. This business model encourages MarketWolf to concentrate on creating reliable products and a supportive learning ecosystem so that users can manage risks and execute trades more successfully regardless of market conditions.
MarketWolf has had over 1.5 million app downloads in India over the past 18 months. It was founded by Vishesh Dhingra and Thomas Joseph with the mission of “Anyone Can Trade” in order to democratize the trading ecosystem.
The software, which is geared toward novice investors, promises to make trading as simple and jargon-free as possible while providing security against market volatility thanks to its strong built-in risk management system, practice & learn modules, and low-ticket size investment possibilities.