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Trading platform Mochatrade raises $5.5 Mn in seed round led by CoinFund

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Trading platform Mochatrade raises $5.5 Mn in seed round led by CoinFund

Trading platform Mochatrade has raised $5.5 million in a seed funding round led by CoinFund, with participation from Coinbase Ventures and Zero Knowledge Ventures, among others. Its earlier backers include Y Combinator and Pioneer Fund.

The fresh funds will be used to develop its trading engine and risk infrastructure, as well as expand its reach among active Indian traders, Mochatrade said in a press release.

Founded this year by Utkarsh Sinha, Parth Maheshwari and Chetan Manda, Mochatrade is a trading platform for Indian users that combines UPI-based funding and rupee balances with access to contracts linked to US stocks, indices and commodities.

According to the company, users can fund their accounts through UPI and view margins, or the money set aside for trades, as well as profits and losses in rupees. Users can take long or short positions through perpetual futures contracts linked to US company prices without opening a US brokerage account. These contracts have no fixed expiry, and users do not own the underlying shares. Leverage allows users to take larger positions with less upfront capital, but also amplifies potential losses.

Through its Indian operating entity, Mochatrade is registered with the Financial Intelligence Unit India (FIU-IND) as a Virtual Digital Asset Service Provider and a reporting entity for anti-money laundering purposes.

The platform said its waitlist has crossed 25,000 sign-ups. However, it has not announced a public launch date. Users can join the waitlist on its website for early access updates.

Mochatrade also plans to introduce contracts linked to select pre-IPO companies, US stock options and social trading features, subject to applicable laws and regulatory approvals.


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