Existing investors and others including 9Unicorns, Iseed, Crescent and Riverwalk also participated in the round.
The company has raised $17.4 million so far, he said.
MarketWolf plans to use the capital to grow its product line and hire top talent in product, marketing and engineering functions.
The company also plans to hire talent in technology and product development.
Founded in 2017 by Vishesh Dhingra and Thomas Joseph, MarketWolf targets new investors to make the trading experience simple and jargon-free.
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“The number of trading accounts and active retail clients increased 10 times compared to the same period last year, despite the volatility seen in public capital markets this year,” he said in a statement.
The startup said it has 1.5 million app users. It has an integrated risk management system and low cost investment options.
“Today, we stand 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,” Dhingra said.
The company will invest more money in marketing, he said.
“Retail equity market participation in India continues to remain extremely low at ~3-5% and we believe MarketWolf has the right product, team and expertise to break into this market,” said Arpit Beri. , director. at Jungle Ventures.
The company plans to launch more products tailored to retail investors and new-era mobile gamers, while mitigating the inherent risks associated with public capital markets, he said.