YC-Backed Mochatrade Raises $5.56M Total to Offer US Stock Contracts to Indian Users

October 27: According to The Block, India-focused trading platform Mochatrade has completed a total of $5.56 million in funding to offer perpetual contracts tied to US stock prices. The seed round was led by CoinFund, with participation from Coinbase Ventures and Zero Knowledge Ventures general partner Nicky Montana. Y Combinator and Pioneer Fund backed a $690,000 pre-seed round, of which Y Combinator's $500,000 investment arrived earlier this month in the form of USDC on Base.

Mochatrade allows Indian users to deposit funds via UPI and trade leveraged contracts tied to companies such as Nvidia, Tesla and Apple, without holding the shares or opening a US brokerage account. The platform is currently in beta testing and is expected to launch publicly in the coming weeks. The funds will be used for trading technology and customer growth, and the company plans to add US stock options, more assets and social trading features.