Fantasy Stock Gaming Application TradingLeagues Raises $3.5 Mn Funding
TradingLeagues, a Bengaluru-headquartered fantasy stock gaming application, has raised $3.5 million in a pre-Series A funding round led by Leo Capital.
The funding round also saw participation from investors, including the Jeejeebhoy Family Office and the family office of KP Balaraj (Co-founder of Sequoia India and Westbridge Capital).
As per the startup, the freshly raised funds will be used to grow its user community and enhance the user experience on the app.
TradingLeagues | Fantasy Gaming App For Stocks & Cryptos
Founded by Raghu Kumar and Harsh Agarwal, TradingLeagues enables users to experience the financial markets without a brokerage account.
Operated by Rain Platforms Inc, the fantasy stock gaming application allows users to play on free and paid fantasy trading leagues, test predictions and indicators, make investment strategies, or develop stock market skills.
Speaking about the development, Harsh Agarwal, Co-founder of TradingLeagues, said,
“We built TradingLeagues as a fantasy gaming app, first and foremost, since it was important to retain traditional gaming elements while introducing users to the financial markets. Existing gamers find our app easy to use since the focus has been to build a highly intuitive user experience. Our near-term goal is to make the app more robust and introduce various exciting product features, which our users have been asking for.”
The Bengaluru-headquartered startup is on a mission to redefine how the average user interacts with the financial market through the power of gamification. TradingLeagues focuses on Indian and US stocks and the crypto market. Besides the platform/entry fee, the app earns by taking a percentage of the competition’s prize pool.
The stock gaming app claims to have 750,000 users and over 50 million games played since its launch. It also plans to launch the app in the US market in the next 12-18 months.
As per Raghu Kumar, Co-founder of TradingLeagues, the startup is India-focused right now. Once the Series A round goes through, TradingLeagues will work on getting the necessary licenses and launch the app in the US and other markets. This will make TradingLeagues a cross-border app where global users can play against each other in an RMG environment, added Raghu.
Commenting on the development, Rajul Garg, Founder and Managing Partner at Leo Capital, said,
“The recent online gaming regulations have increased investor confidence in the market, and we believe the market is ripe for growth. TradingLeagues has a strong founding team and business fundamentals. It has the potential to help Indians experience India’s trillion-dollar financial markets.”
Note: If you are a budding entrepreneur and require assistance to register a Pvt Ltd Company, register a company, create financial projections, business development, LLP Registration, compliance filing, funding formalities, debt funding, CFO Services, or other startup related legal services, contact us.