Fintech startup Mochatrade has secured $5.5 million (approximately ₹52.3 crore) in a seed funding round led by CoinFund, with strategic backing from Coinbase Ventures and Zero Knowledge Ventures, according to funding details reported by Inc42. The Y Combinator-backed company plans to deploy the capital to engineer its high-frequency trading engine, strengthen risk infrastructure, and launch perpetual contracts tied to US equities for Indian domestic participants.
Founded by Utkarsh Sinha, Chetan Manda, and Parth Maheshwari, Mochatrade is structuring a platform designed to let Indian retail traders take directional positions on global financial assets without the complexities of cross-border currency conversion. Rather than purchasing actual underlying US equities, users will trade perpetual futures and price-tracking contracts linked to US stocks, cryptocurrencies, commodities, and major market indices. The platform integrates local payment rails, enabling users to fund accounts via Unified Payments Interface (UPI) and view balances, margin levels, and profit-and-loss metrics in Indian rupees (INR).
Localizing Global Derivative Architecture
Perpetual futures allow traders to initiate long or short positions based on expected price movements without an expiration date. Mochatrade also plans to introduce leveraged trading options, which enable participants to deploy larger market exposures against smaller upfront capital margins, accompanied by proportional downside risk. To establish ongoing revenue, the platform intends to collect standard trading fees on transactions.
"India traded $1.9 Tn in options premium turnover last year. The appetite to trade is already here. But when Indians want to trade the US market, the product still feels foreign," said Utkarsh Sinha, chief executive officer of Mochatrade. Sinha previously co-founded cryptocurrency wallet Martian in 2022, which logged more than 2 million installs and handled over $2 billion in aggregate transaction volume.
| Key Metric / Parameter | Confirmed Detail |
|---|---|
| Funding Raised | $5.5 Million (₹52.3 Crore) |
| Lead Investor | CoinFund |
| Participating Investors | Coinbase Ventures, Zero Knowledge Ventures |
| Founding Team | Utkarsh Sinha, Chetan Manda, Parth Maheshwari |
| Core Instruments | Perpetual futures tracking US stocks, indices, commodities |
| Account Settlement | INR-denominated via UPI funding |
| Current Traction | 25,000+ waitlist registrations |
Strategic Road Ahead and Expansion Safeguards
Beyond basic synthetic perpetual contracts, the startup's medium-term roadmap includes contracts tracking pre-IPO companies, US stock options, and integrated social trading features. The company has stated that the rollout of these additional features will remain strictly contingent on applicable regulatory approvals.
While Mochatrade's waitlist has crossed 25,000 sign-ups, the company has not published a definitive public launch date. In the interim, fresh capital remains allocated to liquidity sourcing, compliance safeguards, and operational stability to withstand volatility across underlying assets.
Frequently Asked Questions
How much funding did Mochatrade raise?
Mochatrade raised $5.5 million (around ₹52.3 crore) in a seed funding round led by CoinFund, with participation from Coinbase Ventures and Zero Knowledge Ventures.
How will Indian users trade US assets on the platform?
Indian traders will trade synthetic perpetual futures and price-tracking contracts linked to US equities, indices, and commodities rather than holding underlying shares directly. The platform supports UPI deposits and displays account margins and balances in Indian rupees.
Has Mochatrade announced a public launch date?
No official public launch date has been disclosed. The platform currently has over 25,000 waitlist registrations while it builds out its core trading engine and risk systems.
