Upstox founder Raghu Kumar raises $3.5 million for gaming startup TradingLeagues

Raghu Kumar, who had co-founded the stockbroking startup Upstox with his brother Ravi Kumar, has raised a pre-series A round of funding for his next venture, TradingLeagues.

A fantasy gaming application that enables users to play the financial markets, TradingLeagues has raised money from Leo Capital, the Jeejeebhoy Family Office, and the KPB Family Trust, the family office of KP Balaraj, founder of Sequoia India and Westbridge Capital.

With the infusion of funds, the startup plans to scale its user base of 7,50,000 into a community of millions over the next few months by focusing on enhancing the app’s user experience, per the company's statement.


"Recent online gaming regulations have increased investor confidence in the market, and we believe it is ripe for growth. TradingLeagues has a strong founding team and business fundamentals. It has the potential to help Indians experience India’s trillion-dollar financial markets,” Rajul Garg, founder and managing partner, Leo Capital said.

The company aims to raise about $10 million in a Series A round of funding over the next two-three months, Kumar told ET in an interaction.

TradingLeagues aims to help users develop an understanding of the stock and crypto markets through four games. These games help users develop skills like portfolio-building and day trading.

Bengaluru-headquartered TradingLeages is a flagship product of Rain Platforms, founded by Kumar, who stepped down from his operational role at Upstox in 2019.