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YC-backed Mochatrade raises $5.5 million to bring US stock perpetuals to Indian traders

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YC-backed Mochatrade raises $5.5 million to bring US stock perpetuals to Indian traders

Mochatrade, a Y Combinator-backed trading platform that lets Indian users trade contracts linked to US stocks with money deposited through UPI, has raised $5.56 million in total funding, including a seed round led by CoinFund.

Coinbase Ventures and Nicky Montana, general partner at Zero Knowledge Ventures, also took part in the round.

Mochatrade said it will use the money to build its trading engine and risk infrastructure and to reach more active Indian traders.

The startup allows users to fund their accounts through UPI and track their trading margins, profits and losses in rupees. It also offers perpetual futures contracts linked to the share prices of US companies, enabling users to take long or short positions without opening a US brokerage account.

Perpetual futures have no expiry date, and users do not own the underlying shares. According to Y Combinator, Mochatrade lists contracts on stocks such as Tesla, Nvidia and Apple, commodities including oil, gold and silver, and leverage of up to 50 times. Leverage lets traders open larger positions with less upfront capital, but it also magnifies losses.

The startup said its markets are designed for continuous access and real-time settlement, subject to liquidity, asset availability and risk controls. It earns money through trading fees and has no plans to launch a token for now, Manda told The Block.

The platform is still in beta. Its waitlist has crossed 25,000 sign-ups, but the company has not announced a public launch date.

It plans to add 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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