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Venture Capital | 29 April 2015

Incubator Rainmatter Invests In Financial Software Solutions Provider Tradelab

by Vivek Singh
Incubator Rainmatter Invests In Financial Software Solutions Provider Tradelab
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Bangalore based startup, Tradelab, has raised R2.5 Cr from Rainmatter, a financial technology incubator.

Founded in 2012 by IIT Kharagpur alumnus, Tradelab, develops software products that acts as a trading platform and performs analytics for financial services firms. Its software products include Cyrus (Configurable low latency algo trading platform), Esim (Advanced online trading platform) and Pi (Paper trading on simulated market competition).

The company has been incubated at SRIC, IIT Kharagpur and had raised Series A round funding from Straddle Capital.

The new trading platform named Pi has been developed for discount brokerage firm Zerodha.

Founded by Nithin Kamath (founder of Zerodha, a discount brokerage firm), Rainmatter, is an incubator that will exclusively focus on start-ups that will develop technology products for the financial services sector. The fund will invests up to $1 Mn (about R6.3 Cr).

The fund, which currently houses seven companies, has also invested R25 lakh each in Opentrade Financial Services and Inherit, two Bengaluru-based financial technology product startups that are still in the beta phase.

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