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Punch, a stock trading platform, raises $7 million in funding from notable angel investors.
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The funds will be used for research and development, technology enhancement, and talent acquisition.
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Punch aims to focus on responsible trading behavior and risk management for first-time traders.
Punch, a Mumbai-based stock trading platform, has raised $7 million in funding from prominent angel investors, including Kunal Shah and Vatsal Singhal. The startup plans to utilize the funds for research and development, technology enhancement, and talent acquisition to improve its platform.
Punch is designed for first-time traders, focusing on responsible trading behavior through innovative safety tools. The platform enables index and stock options trading, as well as direct stock trading, and has around 19,000 registered accounts using its beta version.
The funding comes at a time when India’s markets regulator, SEBI, has proposed tighter rules on trading in individual stock derivatives to avert risks of market manipulation. Punch’s built-in safety tools help traders adhere to daily and weekly trading limits and mitigate the risk of significant losses.
