Bengaluru-based startup TradingLeagues has successfully secured $3.5 million in a pre-Series A funding round, with Leo Capital leading the investment. Other notable investors, including the Jeejeebhoy Family Office and the family office of KP Balaraj, co-founder of Sequoia India and Westbridge Capital, also participated in the funding.
The latest capital infusion will primarily be utilized to expand TradingLeagues’ user community and enhance the overall user experience offered by their fantasy stock gaming application.
TradingLeagues, founded by Raghu Kumar and Harsh Agarwal, aims to provide users with an immersive experience of financial markets without the need for a brokerage account. Through their platform, operated by Rain Platforms Inc, users can participate in both free and paid fantasy trading leagues, test predictions and indicators, devise investment strategies, and develop essential skills for the stock market.
Harsh Agarwal, co-founder of TradingLeagues, emphasised the importance of incorporating gaming elements into their app while introducing users to the financial markets. The app’s intuitive user experience has made it particularly appealing to existing gamers. Agarwal further revealed that their short-term objective is to bolster the app’s capabilities and introduce exciting new features based on user feedback.
TradingLeagues is dedicated to revolutionizing how everyday users engage with financial markets through the power of gamification. The platform primarily focuses on Indian and US stocks, as well as the cryptocurrency market. In addition to the platform’s entry fees, the app generates revenue by taking a percentage from the competition’s prize pool.
Since its launch, TradingLeagues boasts an impressive user base of 750,000 individuals who have collectively played over 50 million games on the platform. Looking ahead, the company plans to launch its app in the US market within the next 12-18 months. Raghu Kumar, co-founder of TradingLeagues, mentioned that the startup is currently centred on the Indian market. However, once the Series A funding round is completed, TradingLeagues will work towards obtaining the necessary licenses to expand into the US and other markets. This strategic move will transform TradingLeagues into a cross-border application, allowing global users to compete against each other in a real-money gaming environment.
With its recent funding success and ambitious expansion plans, TradingLeagues is poised to redefine the landscape of fantasy stock gaming, offering an exciting and accessible platform for individuals to engage with the world of finance.