MarketWolf, a Singapore-headquartered trading app has raised US$5.5million in a fresh round of seed funding from individual investors.

Some of these investors include Anil Thadani, Ashutosh Sinha, Roy van Leeuwen, Tomas Urbanec, Anuj Srivastava, and Ramakant Sharma, MartketWolf said in a statement.

MarketWolf had raised $1.7 million during its angel round and has raised a total of $7.2 million to date.

This fresh funding will be utilized to build new products, expand the user base and attract top talent, said the firm.

“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 democratizing trading worldwide. We believe ‘Anyone Can Trade’ and are working towards demystifying the complex world of trading, starting with intra-day options. Our global ambitions are backed by a strong group of investors and an experienced, diligent team that is able to deliver under any circumstances.” said MarketWolf Founder and Chief Executive Officer Vishesh Dhingra.

MarketWolf launched in India as its first market and is experiencing exponential growth in all business metrics with trading accounts increasing by 4 times and monthly active users multiplying to 10 times over the last few months.

MarketWolf, which is a licensed stockbroker in India, has clocked over 1 million app downloads and is available on both Android and iOS.

MarketWolf does not believe in giving tips but instead creating the right conditions and ecosystem for users to make better trading decisions. With this belief, MarketWolf has pioneered the bold model of charging brokerage only when a trade makes a profit.

“We feel very proud of the fact that on MarketWolf, over 60 percent of trades have made profits for the users. Any feature that gets added in the app has to pass the litmus test of contributing either towards increasing the chances of a trade making profits or minimizing the chances of a trade incurring losses. This is the reason we have aligned our business objectives with users making profits. Our aim is to create a global community of MarketWolves – people who learn the 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 categorized into only bulls and bears, MarketWolves will be a worthy addition,” said Dhingra.

MarketWolf believes that there are a lot of good solutions available to people for long-term investments. However, for people who are interested in short-term trading, there may be limited protection available and they could end up making bad choices, especially as they are starting out their trading journey. MarketWolf helps these people by simplifying trading experience, removing unnecessary jargon and complexities associated with options, and educating them, while protecting their capital with built-in risk management features.

MarketWolf was founded in 2017 by former investment bankers Dhingra and Thomas Joseph. Headquartered in Singapore, it is the world’s first ‘intra-day options only’ trading app which aims to make trading as easy as possible without compromising on the protection needed for the less experienced investors. It currently has offices in Mumbai, India, and Singapore.

MarketWolf was conceptualized by Dhingra who has over 15 years of professional experience in the investment banking and fintech space and has held roles at global investment banking firms Merrill Lynch and Barclays Capital. He also previously served as Chief Operating Officer of social payments startup Fastacash.

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