Mochatrade raises up to six million dollars for Indian stock perpetuals

Indian trading startup Mochatrade has raised seed funding to offer leveraged United States stock perpetuals to retail traders in India, news outlets reported on Monday. Reports differ on the exact capital raised. Crypto Briefing and Dealroom reported that Mochatrade secured approximately 6 million dollars, whereas The Block and Cryptonews.net reported a figure of 5.5 million dollars, and Traders Union reported 5.56 million dollars. [1][2][3][4][5]

CoinFund led the seed round, according to Crypto Briefing. Crypto Briefing reported that Coinbase Ventures and Nicky Montana, a general partner at Zero Knowledge Ventures, also participated in the round. [1]

The total funding amount includes a prior pre-seed round worth 690,000 dollars, according to Crypto Briefing. Crypto Briefing reported that Y Combinator and Pioneer Fund backed the pre-seed round. Co-founder and chief product officer Chetan Manda told The Block that Y Combinator provided its 500,000 dollar investment earlier this month entirely in USDC on Base. [1]

Mochatrade allows Indian retail traders to execute always-on, rupee-funded leveraged bets on United States equities, Crypto Briefing reported. [1]