MarketWolf, a startup engaged in investment technology that helps retails investors has closed its Series A round of funding, raising $10 Mn to launch more products for new-age retail investors while reducing the inherent risks associated with capital markets.
“Today, we are at the intersection of two of the most popular and hyper-growth verticals in the new world – stock trading and mobile gaming – both sharing elements of high engagement, excitement, and experiential learning. With risk management at its core, MarketWolf is 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.” Vishesh Dhingra, founder & CEO of MarketWolf said.
New Tech Tools gives investors more power – MarketWolf Chief
Vishesh added, “With the average retail stock holding period going down from 8 years to 8 months over the past few decades, we believe that in future, there will be fewer Bulls or Bears and more MarketWolves – people who given the right tools, can capitalize on the latest market opportunities by adjusting their trading styles along with the change in market conditions.”
Arpit Beri, Principal at Jungle Ventures said, “Retail participation in the stock market in India continues to remain abysmally low at ~3-5% and we believe that MarketWolf has the right product, as well as the right team and expertise to break through this market.”
The Mumbai and Singapore-based startup has raised $17.4 Mn in funding so far. MarketWolf will use the funds to build its product suite and hire across product, marketing and engineering teams. The startup had last raised $5.5 Mn in October 2021.
Founded by Vishesh Dhingra and Thomas Joseph in 2017, MarketWolf has had over 1.5 Mn app downloads in India in the last 18 months. The startup targets first-time investors as its customers, enabling an easy trading experience for the same. MarketWolf’s app incorporates a risk management system, practice and learning modules and small-ticket investment options.
In terms of monetisation, the investment tech startup only charges brokerage when a trader makes a profit. MarketWolf claims that its active client base has grown 10X over the last year, despite market volatility.
The investment round was led by Jungle Ventures and Dream11’s Dream Capital. Existing investors 9Unicorns, iSeed, Crescent and Riverwalk, also participated in this round of funding.