TheBlock
Mochatrade has raised $5.56 million in total funding to offer perpetual futures tied to U.S. stock prices for Indian traders. CoinFund led the $4.87 million seed round, with participation from Coinbase Ventures and Zero Knowledge Ventures partner Nicky Montana. Y Combinator and Pioneer Fund backed a $690,000 pre-seed round, including a $500,000 Y Combinator investment made entirely in USDC on Base.
Why it matters
The platform lets users fund accounts in rupees through India's Unified Payments Interface and trade leveraged contracts linked to companies including Nvidia, Tesla and Apple. Users can take long or short positions without owning the shares or opening a U.S. brokerage account, then withdraw in rupees.
Mochatrade is targeting a gap between offshore crypto venues, which typically use dollar stablecoin balances, and Indian investing apps focused on buying and holding U.S. shares. The company operates through ALSD Technologies Private Limited, which holds an FIU-IND registration, while its product remains in beta.
Market impact
More than 20,000 people are on Mochatrade's waitlist, with a public launch expected in the coming weeks. The company plans to use the funding for trading technology and customer growth, while adding U.S. stock options, more assets and social trading features subject to applicable laws and regulatory approvals.
The seed was raised through post-money SAFEs rather than a priced equity round, leaving Mochatrade without a disclosed valuation. The platform currently has no plans to launch a token, and its revenue model is based on trading fees.
Frequently asked questions
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How much funding has Mochatrade raised?
Mochatrade has raised $5.56 million in total. CoinFund led the seed round, while Y Combinator and Pioneer Fund backed a $690,000 pre-seed round.
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How will Indian users fund and withdraw from Mochatrade?
Users can fund accounts in rupees through India's Unified Payments Interface and withdraw in rupees. The platform is designed to avoid requiring a U.S. brokerage account.
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What can traders buy or sell on Mochatrade?
Mochatrade offers leveraged perpetual contracts tied to U.S. stock prices, including Nvidia, Tesla and Apple. Users can take long or short positions without owning the shares.
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Is Mochatrade already publicly available?
Mochatrade is in beta, with early access rolling out. More than 20,000 people are on its waitlist, and the company expects a public launch in the coming weeks.
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Does Mochatrade plan to launch a token?
Mochatrade said it has no plans to launch a token as of now. The platform earns revenue from fees on trades made through its service.
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