Mochatrade raises $5.5M seed led by CoinFund to offer Indian traders US stock perpetual futures

Mochatrade has raised a $5.5 million seed round led by CoinFund, with Coinbase Ventures and Zero Knowledge Ventures participating. Earlier backers Y Combinator and Pioneer Fund put in a $690,000 pre-seed, taking total funding to about $5.56 million. No valuation was disclosed; both rounds were structured as post-money SAFEs.

Founded in 2026 by Utkarsh Sinha, Parth Maheshwari and Chetan Manda, and part of Y Combinator's Spring 2026 batch, the platform lets Indian users fund accounts through UPI and trade perpetual futures tied to US stocks, indices and commodities in rupees, without a US brokerage account. Users do not own the underlying shares.

The waitlist is above 20,000 and a public launch is expected within weeks. The funds go to the trading engine, risk infrastructure and customer growth in India.