[Funding alert] MarketWolf raises $5.5M in seed round
, an intra-day options only trading app, on Tuesday said it has raised $ 5.5 million (about Rs 41.2 crore) in seed funding from a clutch of high profile individual investors.
Some of these investors include Anil Thadani (Symphony Asia Chairman), Ashutosh Sinha (former CEO of Morgan Stanley Investment Management Singapore), Roy van Leeuwen (Head of Benelux region at Auto1), Tomas Urbanec (former CEO of Prudential Assurance Singapore), Anuj Srivastava and Ramakant Sharma (co-founders), a statement said.
MarketWolf had raised $1.7 million during its angel round, and has mopped up a total of $7.2 million to date, it added.
The latest funding will be utilised to build new products, expand the user base and attract top talent, the company said.
This funding announcement is a significant step forward for all of us at MarketWolf and a testament to the fact that our investors believe in our vision of democratising trading worldwide. We believe 'Anyone Can Trade' and are working towards demystifying the complex world of trading, starting with intra-day options," MarketWolf founder and CEO Vishesh Dhingra said.
He added that MarketWolf's global ambitions are backed by a strong group of investors and an experienced, diligent team that can deliver under any circumstances.
MarketWolf launched in India as its first market and has seen trading accounts increasing by 4X and monthly active users multiplying to 10X over the last few months.
MarketWolf, a licensed stockbroker in India, has clocked over one million app downloads and is available on both Android and iOS.
"Our aim is to create a global community of MarketWolves people who learn psychology, knowledge and tools to trade well in all market conditions and train each other to become better traders. In an industry, which has been largely categorised into only bulls and bears, MarketWolves will be a worthy addition, Dhingra said.
Founded in 2017 by Vishesh Dhingra (CEO) and Thomas Joseph (COO), MarketWolf has offices in Mumbai and Singapore.