Mochatrade Raises $5.56 Million in Funding Led by CoinFund

According to The Block, Mochatrade, an Indian fintech platform incubated by Y Combinator, has completed a $5.56 million funding round led by CoinFund, with participation from Coinbase Ventures. The company had previously received pre-seed investment from Y Combinator and Pioneer Fund. Mochatrade offers Indian traders perpetual contracts pegged to US stock prices, allowing users to deposit and trade in rupees via UPI, covering over 50 US stock perpetual contracts as well as Pre-IPO stocks, commodities, indices, and crypto assets, with leverage of up to 50x. The platform is built on Hyperliquid, uses non-custodial wallets, and supports 24/7 settlement without the need for overseas remittances. Mochatrade co-founder Chetan Manda told The Block that the platform is currently in the testing phase and plans to open to the public in the coming weeks. The company is progressing with registration under India's Financial Intelligence Unit (FIU-IND) and is working with local law firms to build a compliance framework.