SUMMARY
MarketWolf will use the funds to build its product suite and hire across product, marketing and engineering teams
The startup targets first-time investors as its customers, enabling an easy trading experience for the same on its app
MarketWolf claims that its active client base has grown 10X over the last year, despite market volatility
Investment tech startup MarketWolf closed its Series A round of funding, raising $10 Mn. The round was led by Jungle Ventures and Dream Sports’ Dream Capital. Existing investors 9Unicorns, iSeed, Crescent and Riverwalk, also participated in this round of funding.
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.
MarketWolf also plans to launch more products for new-age retail investors while mitigating the inherent risks associated with public capital markets.
Vishesh Dhingra, founder & CEO of MarketWolf said, “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.”
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.”
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.”
In FY21, the estimated value of total equity in the Indian stock market was $990 Bn, and the same is expected to increase 2.3x to $2.2 Tn in FY26, which makes the growth of investment tech all the more obvious.
With increasing participation from retail investors, investment tech has become one of the most promising fintech subsectors. It is expected to grow from a $9.2 Bn market opportunity in 2022 to a $27.5 Bn market opportunity in 2025, according to an Inc42 report.
MarketWolf competes with the likes of unicorns such as Groww and Zerodha, along with INDMoney and Scripbox, among others.
