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Friday, June 21, 2024

MarketWolf gets $10M funding to expand product line, hire new employees

MarketWolf has secured $10 million in Series A funding. The investment tech startup will use the money to expand its product line and hire new employees in the product, marketing, and engineering departments.

MarketWolf, an investment tech startup, secured $10 million in its Series A round of funding. Jungle Ventures and Dream11’s Dream Capital led the financing. This round of fundraising was also attended by existing investors 9Unicorns, iSeed, Crescent, and Riverwalk.

So far, the Mumbai and Singapore-based business has secured $17.4 million in investment. MarketWolf plans to utilize the funding to expand its product line and hire new employees in the product, marketing, and engineering departments. In October 2021, the business raised $5.5 million.

MarketWolf, founded in 2017 by Vishesh Dhingra and Thomas Joseph, has had over 1.5 million app downloads in India in the previous 18 months. The startup’s consumers are first-time investors, and it provides an uncomplicated trading experience for them.

MarketWolf’s app includes a risk management system, practice and learning modules, and options for small-ticket investments.

In terms of revenue, the investing technology firm only charges brokerage when a trader makes a profit.

Despite market volatility, MarketWolf boasts that its active customer base has expanded 10X in the last year.

MarketWolf also intends to introduce further solutions for new-age retail investors while limiting the inherent hazards of public capital markets.

“Today, we are at the crossroads of two of the most popular and hyper-growth sectors in the new world – stock trading and mobile gaming – both sharing features of high engagement, excitement, and experiential learning,” said Vishesh Dhingra, founder and CEO of MarketWolf.

MarketWolf is quickly becoming the go-to stock trading platform for the mobile gaming generation, who prefer to explore new and more immersive ways of doing things.”

The anticipated value of total equity in the Indian stock market in FY21 was $990 Bn, and it is predicted to expand 2.3x to $2.2 Tn in FY26, emphasizing the importance of investing technology.

Investment technology has emerged as one of the most promising fintech subsectors, thanks to increased engagement from individual investors. It is anticipated that the market potential would expand from $9.2 billion in 2022 to $27.5 billion in 2025.

MarketWolf competes with unicorns like Groww and Zerodha, as well as INDMoney and Scripbox, among others.


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