allows traders to test their strategies in a simulated market environment while participating in games that involve real money. [Representative image]
Financial edu-gaming platform Fantasy Trading League (FTL), on February 12, announced to have raised Rs 2.24 crore in a seed round led by Artha Venture Fund (AVF). SAT Industries and angel investor Akhil Jalan also participated in the round.
The FTL aims to use the funds to introduce multiple asset classes such as commodities and bonds, for team expansion and customer acquisition. Apart from this, FTL will also include multilingual educational content on the basics of trading and investing, and in-depth market analysis, among other aspects.
“We were blown away by the significant white space in the industry that could be leveraged to engage with budding and existing investors, who are interested in the financial markets but are hesitant in exploring the prospect headlong – especially in tier 2-3 markets. Being a customer-first company, we wanted to give them a non-volatile space where they could hone their strategies and skills,” Fantasy Trading League C0-Founder Shahzaib Ahmed said in a statement.
“We were clear that we wanted to partner with investors who would closely be involved in the company, had in-depth knowledge of the markets, and shall help us scale the business. AVF’s strategic approach was a clear draw and sealed them as our preferred partners. We are excited to work with the team at AVF and are confident of a fruitful association,” he added.
The startup allows traders to test their strategies in a simulated market environment while participating in games that involve real money. FTL also provides a closed-loop platform that enables participants to get real-world trading experience and develop critical skills in a low-risk environment.
FTL further states that post Budget 2022, the volatility in the crypto space has led to mixed reactions from investors at large and it will cater to such challenges by offering crypto-based games with low-risk and high rewards.
““FTL, as a fantasy gaming platform focused on simulating crypto and stock markets, has a strong subject-matter advantage. With the recent spike in average individual savings, the stock-broking and personal investment segments have caught wind during the last 18 months. Moreover, combining Finance, Gaming, and Education in a unified platform is a unique challenge. We believe that FTL’s team has the vision and the potential to emerge as clear category leaders. Shaaz and Shahzaib’s passion and frugal innovation are impressive, and we are glad to partner with them,” Artha Venture Fund’s MD Anirudh A Damani said.