MarketWolf is planning to introduce stock trading to first time investors in more markets. The platform said it has raised $10 million in Series A funding. 9 Unicorns, iSeed, Crescent and Riverwalk are returning investors
MarketWolf has raised $17.4 million since it was founded in 2017! The funding will be used to build a product suite and hire people to work on it.
MarketWolf wants to make trading accessible to first-timers with low minimum investment amounts and a risk management system. They can invest up to $5. The majority of its users are between the ages of 18 and 35.
MarketWolf has risk-management features that include setting mandatory risk and reward levels, listing only liquid instruments, and preventing the sale of options to avoid unlimited risk.
MarketWolf says it has seen over 1.5 million app downloads in India over the last 18 months and that its number of trading accounts and retail active clients have grown 10 times over the last year. In terms of trades, it was one of the top 15 brokers.
Prior to co-founding MarketWolf, Dingra was a quantitative modeler at Merrill Lynch.
He and Joseph wanted to launch an investment app because they noticed that existing products were only focused on investing for a long time. We know that there could be an easier, more engaging and risk-managed way of trading made available to people around the world.
There are a number of investment apps in Southeast Asia that have raised funding. For first-time investors, wealth management platform PINA, Indonesian crypo trading app Pintu, and Vietnam's Anfin have all raised venture capital.
MarketWolf distinguishes itself from other investment apps with its gamified interface and trading-first approach, according to Dingra.
MarketWolf is a trading-first product that creates its own market segment for people who can trade well in all market conditions.
Retail participation in the stock market in India has remained abysmally low and we believe that MarketWolf has the right product, as well as the right team and expertise to break through this market.
Is consolidation on the horizon for Southeast Asia’s tech industry?
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