Stockbroking platform Punch has successfully raised $7 million in its latest seed funding round. The round saw participation from prominent investors including Stellaris Venture Partners, Susquehanna Asia VC, Prime Venture Partners, and Innoven Capital. Notable angel investors such as Kunal Shah (Cred), Vatsal Singhal (Ultrahuman), and Nitish Mittersain (Nazara) also contributed to the funding.
The capital infusion will be directed towards advancing research and development (R&D) initiatives to refine user experience and bolster marketing efforts.
Founded by Amit Dhakad, Hiral Jain, Arshad Fahoum, and Ajit Dandekar, Punch is committed to fostering responsible trading practices. The platform stands out with its innovative approach, offering features such as intuitive safety tools and a user-friendly single-screen interface designed to simplify trading.
Punch’s built-in safety tools are specifically designed to help traders adhere to their daily and weekly trading limits, thus minimizing the risk of substantial losses. This focus on safety and user experience has been central to Punch’s development since its inception in 2022.
The app enables users to open a demat and trading account directly through its interface, streamlining the process and enhancing accessibility. Punch’s approach aims to set a new standard in the trading world, emphasizing both innovation and security in stock broking.
With this new round of funding, Punch is poised to make significant strides in improving the trading experience and meeting the evolving needs of its users.
