Mochatrade raises $5.56 million for US stock trading

• Mochatrade raised $5.56 million in total funding, with CoinFund leading its seed round and Coinbase Ventures participating.
• The platform lets Indian traders use rupees to trade leveraged perpetual futures linked to US stock prices.
• The startup plans a public launch in the coming weeks, with funds supporting trading technology and customer growth.

Mochatrade has raised $5.56 million to expand access to US stock-linked perpetual futures for Indian traders, according to an exclusive report by The Block.

CoinFund led the seed round, joined by Coinbase Ventures and Nicky Montana of Zero Knowledge Ventures, following a $690,000 pre-seed round backed by Y Combinator and Pioneer Fund.

“Mochatrade is built for U.S. stock token trading: users fund in rupees through UPI, go long or short on U.S. stock prices with leverage, and withdraw in rupees,” co-founder and chief product officer Chetan Manda said in a statement.

The platform lets users trade contracts linked to companies such as Nvidia, Tesla and Apple without owning shares or opening US brokerage accounts.

Mochatrade remains in beta, with more than 25,000 people on its waitlist and a public launch planned for the coming weeks.

The startup operates in India through ALSD Technologies Private Limited, which holds registration with the Financial Intelligence Unit–India, according to Manda.

Mochatrade plans to use the funding for trading technology and customer growth, while exploring US stock options, additional assets and social trading features.

Mochatrade’s next milestone is its planned public launch, with further product expansion subject to applicable laws and regulatory approvals.