[Funding alert] Fintech startup Market Pulse raises $750K in pre-Series A round
, a Mumbai-based market analysis platform that helps people navigate through and profit off financial markets, on Wednesday announced that it has raised $750,000 in pre-Series A round of funding. The round was led by HNI investors Ameet Desai (Founder, Anubhuti Advisors LLP and Ex-Group CFO, Adani Group), Aditya Goel (Director, Securcap, UK), Rashmi Kwatra (Founder and CIO, Sixteenth Street Capital), and Umasankar Nistala (MD and CEO, BNP Paribas India).
Amit Dhakad, Co-founder and CEO of Market-Pulse, said,
“We’ve been a profitable, sustainable business; our fundraise at this stage is to help grow our technology platform, and invest in branding to be able to attract the best tech talent there is. We are pleased to have the support of strategic investors on our journey. Our aim is to build the future of trading and become the de facto trading platform in India.”
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With this new investment, the platform aims to increase its reach and triple its active user base in the next 18 months.
Market Pulse will also use the capital to invest in technology to enhance its core trading platform, kickstart branding and marketing initiatives, and expand its team from 30 to 100 people.
Founded in 2015 by Amit Dhakad and Hiral Jain, Market Pulse is a stock market app with two million downloads. It claims to enable users to make better, faster and more informed trading decisions in the equity and commodity markets in India. The startup aims to level the playing field for traders and investors, providing everyone with access to real-time data and insights.
“Building a trading platform is a complex business and Market Pulse, in just a few years, has demonstrated its success and sustainability. The investment market is set to grow and Market Pulse is at the helm to nurture both the seasoned investor and those entering the field for the first time, giving them the right tools, knowledge, skills and support to make smarter decisions and better profits," added Aditya Goel, Director, Securcap, UK.