On Tuesday, the fintech stock trading platform MarketWolf announced that it had completed its Series A funding round. The funding round was led by the venture capital firm Jungle Ventures and Dream Capital, which is the corporate venture capital and acquisitions arm of Dream Sports. The sum collected is around 79 crores of rupees (US dollars). Following a statement that was made public by MarketWolf, the investment round was taken part in by both previously established investors as well as new investors. These new investors include 9Unicorns, iSeed, Crescent, and Riverwalk.
According to the statement, MarketWolf, which FnO India Securities Pvt. Ltd. manages, intends to put the newly acquired funding toward the enhancement of its product and the recruitment of personnel for its marketing, engineering, and product development teams. FnO India Securities Pvt. Ltd. is the company that manages MarketWolf. MarketWolf is a stock trading application developed in 2017 by Vishesh Dhingra (CEO) and Thomas Joseph. The app is accessible via mobile devices (CRO). The service is intended for individuals who have never invested before. Its purpose is to make trading stocks easier to understand and dispel any uncertainty that may have arisen. Users can better control risks and make more intelligent trading decisions regardless of the environment of the market, thanks to the fact that the company only receives brokerage fees on transactions that result in a profit. This enables users to manage risks better. The fledgling business raised $17.4 million in finance when it was first established.
Vishesh Dhingra, the developer of MarketWolf and the company’s CEO, remarked that the programme is “fast becoming the go-to stock trading platform for the mobile gaming generation, who wants to discover new and more immersive ways of doing things.” MarketWolf is a company that focuses on stock trading as its primary business.”
According to Arpit Beri, Principal at Jungle Ventures, retail participation in the stock market in India continues to remain appallingly low at 3-5 per cent, and MarketWolf can help change that. MarketWolf can help alter that. MarketWolf can help change that. We are happy to be a part of the subsequent phases of the brand’s expansion as it has already demonstrated a large amount of stickiness and virality with its client base, “said Beri.
In early May, Jungle Ventures accomplished the final close of its fourth venture capital (VC) fund, which had a total investment of $600 million and was primarily focused on Southeast Asia and India. This number is much more than the initial target corpus of $350 million the company set for itself. Indian startup unicorns such as Moglix and Livspace have been included on its roster of enterprises thanks to the firm’s investment in such businesses.
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