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Stock-broking platform Punch has raised $7 million in seed funding from Stellaris Venture Partners, Susquehanna Asia VC, Prime Venture Partners, and Innoven Capital.
The round also saw participation from angel investors including Cred founder Kunal Shah, Vatsal Singhal, cofounder of Ultrahuman, and Nitish Mittersain, founder of Nazara Technologies.
The funds will used for research and development (R&D) initiatives aimed at enhancing user experience and covering marketing expenses.
Punch aims to facilitate responsible trading behaviours, addressing the needs of this cohort through product innovations, such as intuitive safety tools and an easy-to-use single-screen user experience.
“Our focus is on making responsible trading intuitive and part of the user experience,” said Amit Dhakad, CEO and Co-founder at Punch. “We want to help beginners who are engaging with the market, to do it confidently and cautiously.”
Founded in 2022 by Dhakad, Hiral Jain, Arshad Fahoum, and Ajit Dandekar, Punch is a trading platform developed by Market Pulse Securities, a Securities and Exchange Board of India (Sebi)-registered broker.
Punch’s built-in safety tools help traders adhere to daily and weekly trading limits and mitigate the risk of significant losses, it claims. This approach aims to embed risk management into the trading experience without overwhelming beginners with complex mechanisms.
It’s Single Screen trading interface addresses key pain points for beginner traders by consolidating various trading elements onto one mobile screen. This includes charts, profit and loss data, positions, orders, indicators, and options price charts on 1 screen. This approach aims to help beginner traders make confident decisions.
Since 2022, the team has been building and testing Punch, with their goal is to make responsible trading a behaviour through innovative yet intuitive safety tools that beginners find easy to incorporate into their trading patterns.
Punch is available for download on both iOS and Android devices. Users can open a demat and trading account directly through the app.
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