Mochatrade, a startup that offers Indian traders perpetual futures tied to US stocks, has raised a $5.5 million seed round led by CoinFund, according to the firm's October 26 announcement. Coinbase Ventures and Nicky Montana also took part.
The company is still in beta. The Block reported on October 26 that Mochatrade had a waitlist of more than 25,000 people and expected to open to the public within weeks. Perpetual futures are derivatives contracts with no expiry date, which let traders bet on a price without owning the asset.
How the funding adds up
The totals differ slightly depending on who is counting. CoinFund called the financing a "$5.5M seed round." The Block put Mochatrade's total funding at $5.56 million, which includes a $690,000 pre-seed. TokenPost, writing on October 28, split the sum into a $4.87 million seed and that same $690,000 pre-seed. The figures reconcile, though only if one accepts that CoinFund rounded the headline number.
Y Combinator and Pioneer Fund backed the earlier pre-seed. Moneycontrol and ETEntrepreneur reported it on May 6 without giving an amount, and linked it to YC's Spring 2026 batch.
Chetan Manda, co-founder and chief product officer, told The Block that the seed closed in July 2026 and was raised on post-money SAFEs, a standard startup instrument that defers pricing the company until a later round. No priced-equity valuation has been disclosed. Manda also said YC's $500,000 investment came entirely in USDC, a dollar-pegged stablecoin, on the Base network.
Montana's role is a little murky. The Block identified him as a general partner at Zero Knowledge Ventures, but CoinFund's announcement did not say whether he invested personally or through that fund.
"CoinFund has led Mochatrade's $5.5M seed round, alongside our friends Nicky Montana and Coinbase Ventures," wrote Jonathan Rotbard, an investor at CoinFund.
What the product does
Mochatrade lets Indian users trade perpetual contracts on US stocks, and its YC launch post advertises leverage of up to 50x. The website says customers get exposure to price moves without owning the underlying shares or holding voting rights. Manda told The Block that "users fund in rupees through UPI," India's real-time payments system.
