SINGAPORE--(EON: Enhanced Online News)--MyHero Limited, the holding company for the mobile stock market simulation app TradeHero, announced that it has secured US$10 million in funding from Kleiner Perkins Caufield Byers China fund (KPCB China) and IPV Capital. This is one of the largest Series A rounds ever for a Singapore-based consumer Internet start-up.
“Half of China’s 170 million brokerage accounts in China today are online, and TradeHero’s focus on stock tips makes it highly relevant for Asian investors. We are energized and excited by the potential to address these growing markets”
The funding will provide growth capital to allow MyHero Limited to expand its operations, reach and build out its existing portfolio of product offerings including TradeHero, its free mobile stock market simulation app. The game draws on real-world stock market information and acts as an engagement platform which encourages knowledge sharing between novice and experienced traders in an unrivalled global social investment network.
TradeHero has reached the #1 position in the iOS app-store’s finance category in 75 countries and the top 10 position in over 100 countries. Since its launch six months ago, TradeHero acquired 250,000 users spread over 200 countries. TradeHero is also running a campaign with Macquarie Group in Singapore to promote warrants trading and is in discussions with other international financial institutions keen to leverage the app’s wide reach and platform.
“The timely funding will allow us to grow the reach and scale of our user base, build out the technology and drive product availability on different platforms to meet strong demand,” said Dinesh Bhatia, CEO and Founder, MyHero, “Half of China’s 170 million brokerage accounts in China today are online, and TradeHero’s focus on stock tips makes it highly relevant for Asian investors. We are energized and excited by the potential to address these growing markets,” he added.
“The sheer popularity and excitement generated by TradeHero across industries, from the financial world to the gamers, make this a win-win opportunity for us,” said Alex Banh, Partner, IPV Capital.
“TradeHero is a unique financial engagement platform which lets users learn about trading in a controlled environment with real financial market information. It holds promise and we recognize the platform's enormous potential in the financial investment space,” said Wei Zhou, Managing Partner of KPCB China.
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