Stock-Trading platform Punch has raised $7 million in seed funding from Stellaris Venture Partners, Susquehanna Asia VC, Prime Venture Partners and Innoven Capital.
Punch is a trading StartUp platform that offers trading in index and stocks both.
The fund is combination of equity and debt fund and the platform enables index and stock options trading, as well as direct stock trading, based in Mumbai.
The round also saw participation from angel investors including Cred founder Kunal Shah, Vatsal Singhal, cofounder of Ultrahuman, and Nitish Mittersain, founder of Nazara Technologies.
The funds will used for research and development (R&D) initiatives aimed at enhancing user experience and covering marketing expenses.
Founded in 2022 by Amit Dhakad, Hiral Jain, Arshad Fahoum and Ajit Dandekar, Punch is built for first-time traders who want to build responsible trading behaviour through innovative yet intuitive safety tools. The founders originally founded Market Pulse, a charting app eight years ago.
“Our goal over the next year is to focus on R&D and also invest in scaling the app, we want to 4X-5X the number of users of our app in our next three to four months, and after this, we will look at our marketing efforts,” Dhakad added.
