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MarketWolf, a stock trading platform, has reportedly secured USD 10 million in a fresh funding round that was spearheaded by Jungle Ventures as well as Dream Capital. The fundraising also saw participation from 9Unicorns, Crescent, Iseed, and Riverwalk.
The company has managed to raise USD 17.4 million in funding to date, with the fresh capital likely to be used to expand its product suite. MarketWolf is also looking to reinforce its team by going on a recruitment spree for its product, engineering, and marketing divisions.
For those unaware, MarketWolf was founded by Thomas Joseph and Vishesh Dhingra in 2017. The company essentially makes the trading experience easier for first-time investors.
The stock trading platform claims to have grown its trading accounts and retail clients 10x as compared to the same time last year, despite witnessing volatility in public markets lately. The startup claims to have around 1.5 million app users and has a built-in risk management system as well as low-ticket size investment options.
According to Dhingra, stock trading and mobile gaming have been gaining significant traction lately and are currently two of the most popular verticals globally. Both these spaces share similar elements of high engagement, experimental learning, and excitement.
The Principal at Jungle Ventures Arpit Beri claimed that retail participation in India’s stock market continues to remain low at 3-5%. Amidst these trends, the group believes that MarketWolf offers the right product through the right team to create a breakthrough in this business space.
MarketWolf is also looking to introduce more products that would per personalized for the next-gen retail investors as well as mobile gamers. The company will focus on mitigating the risks associated with the current volatile public capital markets as well.
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