MarketWolf Clone
MarketWolf, based in Singapore, intends to open up stock trading to novice investors in additional markets. A $10 million Series A fundraising round led by Mumbai-based Dream Capital and the Singaporean venture capital company Jungle Ventures was announced today by the platform. iSeed, Crescent, Riverwalk, and Unicorns, returning investors, also took part.
With this, MarketWolf has now raised a total of $17.4 million since its founding in 2017. (it launched in India in 2020). The additional financing will go into developing the company's product line and employing more members for the product, marketing, and engineering teams.
MarketWolf's goal is to make trading accessible to beginners by offering low minimum investment amounts, a risk management system, and practice and education modules.
The mandated risk and reward levels, the listing of only liquid instruments, the prohibition of selling options to prevent infinite risk, and the practise and learn module are just a few of MarketWolf's risk-management features.
MarketWolf, a company founded by Vishesh Dhingra and Thomas Joseph, claims to have seen more than 1.5 million app downloads in India. It was included in a list of
Dhingra built quantitative models and methods for algorithmic trading in the capital markets while working at Merrill Lynch and Barclays Capital before co-founding MarketWolf.
He told Omninos that he and Joseph wanted to establish an investment software because "we realized that existing products were focused on investing for the long-term alone, and short-term trading was ignored." Thomas and I both had prior experience working at Merrill Lynch, Morgan Stanley, and other trading desks, so we were aware that there might be a way to make trading more approachable, enjoyable, and risk-managed for everyone in the globe.
The Southeast Asian startup is one of many that have raised money (and are still raising money) for their investment apps. PINA, an Indonesian cryptocurrency trading app, Pintu, and Anfin, a Vietnamese platform likewise geared toward first-time investors, have all raised venture financing in the previous month.
MarketWolf, according to Dhingra, sets itself apart from other investment apps with its gamified user interface (many of its users are from mobile gaming groups) and trading-first philosophy.
MarketWolf is a trading-first product that creates its own new market segment — people who can trade successfully in all market conditions, bullish, bearish, flat, or volatile, he claimed. In contrast, the majority of brokerages on the market are investment-first products.
Arpit Beri, the principal of Jungle Ventures, stated in a prepared statement: "We feel that MarketWolf has the appropriate product, as well as the necessary team and skills to break-through this market. Retail participation in the stock market in India continues to remain abysmally low at 3-5 percent."
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