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KPCB, IPV back Singapore stock market app Series A round

  • Andrew Woodman
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Kleiner Perkins Caufield Byers (KPCB) and IPV Capital have together led a $10 million Series A round for MyHero, the Singapore-based start-up behind the stock market simulation app TradeHero.

Currently available on the Apple smart phone operating system, iOS, TradeHero uses real-world stock market information to allow users to practice stock market trading using a virtual currency. Since its launch six months ago, the game has reached the number one position in the iOS app store's finance category in 75 countries and accumulated 250,000 users.

The app is currently running a campaign with Macquarie Group in Singapore to promote warrants trading and also claims to be in discussions with other international financial institutions looking to leverage the app's wide reach and platform.

The funding will provide growth capital to allow the MyHero to expand its operations, reach and build its existing portfolio of product offerings including TradeHero.

"The timely funding will allow us to grow the reach and scale of our user base, build out the technology and drive product availability on different platforms to meet strong demand," said Dinesh Bhatia, CEO and Founder, MyHero in a release. "Half of China's 170 million brokerage accounts in China today are online, and TradeHero's focus on stock tips makes it highly relevant for Asian investors."

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