Mochatrade has raised a total of $5.56 million in funding, supporting Indian users in leveraged trading of US stocks.

October 27 - Y Combinator-backed US stock perpetual contract trading platform Mochatrade has raised a total of $5.56 million in funding. The seed round was led by CoinFund with participation from Coinbase Ventures and others, while the $690,000 pre-seed round was supported by Y Combinator and Pioneer Fund.

The platform targets Indian traders, supporting deposits in rupees via UPI, and leveraged long or short positions on US stock prices including Nvidia, Tesla, and Apple, without requiring actual stock ownership or a US securities account. The platform is currently in beta testing with a waitlist exceeding 20,000 people and is expected to launch publicly in the coming weeks. The funding will be used for trading technology development and user growth. Future plans include launching US stock options, more trading assets, and social trading features. There are currently no plans for token issuance. (The Block)