Mochatrade Raises $5.5 Million for Indian Traders
Mochatrade, a trading platform, has raised $5.5 million in a seed funding round spearheaded by CoinFund, along with contributions from Coinbase Ventures, Zero Knowledge Ventures, and other investors. Previous supporters include Y Combinator and Pioneer Fund. The newly acquired funds will be allocated towards the enhancement of its trading engine and risk infrastructure, as well as broadening its outreach to active Indian traders, as mentioned in a press release.
About Mochatrade
Founded in 2023 by Utkarsh Sinha, Parth Maheshwari, and Chetan Manda, Mochatrade serves Indian users by merging UPI-based funding with rupee balances and providing access to contracts associated with US stocks, indices, and commodities. According to the platform, users are able to fund their accounts using UPI and monitor margins, which indicate funds reserved for trades, along with profits and losses in rupees.
Trading Features
Users can engage in long or short positions through perpetual futures contracts tied to US company prices without the necessity of a US brokerage account. These contracts do not have a fixed expiration date, and users do not possess the underlying shares. Leverage options enable users to assume larger positions with less initial capital, though this also increases potential losses.
Compliance and Registration
Through its Indian operating entity, Mochatrade is registered with the Financial Intelligence Unit India (FIU-IND) as a Virtual Digital Asset Service Provider and serves as a reporting entity for anti-money laundering purposes. The platform has reported that its waitlist has surpassed 25,000 sign-ups, although a public launch date has yet to be disclosed. Users can sign up for the waitlist on its website to receive early access updates.
Future Plans
Mochatrade intends to introduce contracts linked to select pre-IPO companies, US stock options, and features for social trading, pending applicable laws and regulatory approvals. The company highlighted that its markets are structured to provide continuous access and real-time settlement, dependent on liquidity, asset availability, and risk management controls.
The Growing Market for Indian Traders
Platforms like Mochatrade that cater to Indian users are increasingly integrating UPI-based deposits along with rupee-denominated balances, offering interfaces that resonate with domestic futures and options traders. These platforms offer access to contracts related to US stocks, market indices, and commodities, enhancing trading opportunities for Indian users.