Mochatrade completed a $5.56 million financing round, led by CoinFund

According to The Block, the Indian fintech platform Mochatrade, incubated by Y Combinator, has completed a $5.56 million financing round, led by CoinFund with participation from Coinbase Ventures. The company previously received pre-seed investments from Y Combinator and Pioneer Fund.

Mochatrade offers perpetual contracts linked to U.S. stock prices for Indian traders, allowing users to deposit and trade in rupees via UPI, covering over 50 types of U.S. stock perpetual contracts as well as Pre-IPO stocks, commodities, indices, and crypto assets, with a maximum leverage of 50 times. The platform is built on Hyperliquid, utilizes non-custodial wallets, supports 24/7 settlement, and does not require 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 advancing its registration with the Indian financial intelligence agency FIU-IND and is collaborating with local law firms to establish a compliance framework.