Tradingleagues: Upstox founder Raghu Kumar raises $3.5 million for gaming startup TradingLeagues

Raghu Kumarwho co-founded stock brokerage startup Upstox with his brother Ravi Kumar, has closed a pre-series A funding round for his next venture. trade leagues.

TradingLeagues is a fantasy gaming application that allows users to play on the financial markets. TradingLeagues raised money from Leo Capital citythe Jeejeebhoy Family Office and the KPB Family Trust, the family office of KP Balaraj, the founder of Sequoia India and Westbridge Capital.

With the cash injection, the startup plans to grow its user base from 7.50,000 to a community of millions over the next few months by focusing on improving the app’s user experience, according to the company.

“Recent online gambling regulations have boosted investor confidence in the market and we believe it is ripe for growth. TradingLeagues has a strong founding team and business fundamentals. It has the potential to help Indians learn about India’s trillion dollar financial markets,” said Rajul Garg , Founder and Managing Partner, Leo Capital.

The company is looking to raise about $10 million in a Series A round over the next two to three months, Kumar said in an interaction with ET.

TradingLeagues aims to help users gain an understanding of the stock and crypto markets through four games. These games help users develop skills like portfolio building and day trading.

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Head office in Bangalore TradingLeages is a flagship product of Rain Platforms, founded by Kumar, who retired from his operational role at Upstox in 2019.

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