– Miami, Florida USA, India & Riyadh, Kingdom Of Saudi Arabia
TradingLeagues (by Rain Platforms), a global, groundbreaking ‘esports for the financial markets’ platform, announced an extension to its US $5.5 million Pre – Series A financing round led by Beta Lab, a leading deep tech venture capital firm headquartered in Riyadh, Saudi Arabia that is backed by Kingdom Holdings and the Ministry of Finance.
“Redefining the very definition of what it means to actively engage with cryptocurrencies, stocks, and forex, TradingLeagues emerges as the world’s esports platform for the financial markets”, said Raghu Kumar, the CEO and co-founder at TradingLeagues. “On TradingLeagues, our users come in from all over the world and compete against each other in a hyper-social, skills-based environment, with real money to be won”.
On a mission to aggressively boost awareness and engagement with financial markets on a global scale, TradingLeagues introduces a unique gamified offering. Departing from traditional models employed by brokers and crypto exchanges, TradingLeagues users can embark on their financial journeys by immersing themselves in an engaging environment where they play games involving real-time prices of stocks, cryptocurrencies, and forex.
The innovative platform not only offers an exciting gaming experience but also serves as an educational tool. Participants learn about the workings and movements of various asset classes, gaining valuable insights into the intricacies of financial markets. TradingLeagues transforms the learning process into a dynamic and interactive venture, empowering users to develop real-world skills.
“By democratizing access to financial markets, TradingLeagues️ aims to empower a global community of retail investors and traders, irrespective of their financial backgrounds”, said Harsh Agarwal, the CPO and co-founder at TradingLeagues.
Launched in India, the platform has already demonstrated remarkable success, generating impressive unit economics with over 1 million downloads and over 50 million games being played on the platform, with the average active user spending close to 1 hour on the application daily. Subsequently, in December 2023, TradingLeagues expanded its reach globally, allowing users from around the world to engage in real-time competitions. Since the global expansion, the platform has witnessed substantial growth and is now available in 215 markets globally.
TradingLeagues is committed to continuous improvement, with ongoing efforts to enhance the product’s features and user experience. Future developments include the integration of fiat-based deposits and the introduction of new tokens, products, and game formats. Additionally, the platform plans to launch “private” games, adding to its diverse and engaging offerings.
The collaboration with Beta Lab holds immense significance, particularly given Beta Lab’s prominent presence in Saudi Arabia. Leveraging the evolving business-friendly laws of the region, Beta Lab actively fosters an environment conducive to new enterprises, offering us a unique opportunity to establish a foothold in the Middle East. This partnership not only underscores our commitment to expanding our presence in strategic markets but also highlights the advantageous landscape that Beta Lab’s operations in Saudi Arabia provide for business development and growth.
ABOUT TRADINGLEAGUES
TradingLeagues is the brainchild of serial entrepreneur Raghu Kumar, who co-founded Upstox, the Tiger Global backed fintech Unicorn – and brothers Kanishk & Harsh Agarwal, seasoned hedge fund founders. TradingLeagues represents a convergence of unparalleled financial expertise and technological innovation. The founding trio bring a wealth of experience to the platform, ensuring that it not only reflects the cutting edge of financial markets but also incorporates the latest advancements in technology. The business is incorporated in the United States with operations in Singapore and India.
ABOUT BETA LAB
Beta Lab stands at the forefront as a deep tech venture capital and co-creation studio, strategically centered on the convergence of deep tech and traditional sectors, where transformative potential exists to disrupt the status quo. With a visionary outlook, Beta Labs has positioned itself as a catalyst for the deep tech revolution in the Middle East and is on a mission to empower visionary entrepreneurs and creative minds to bring their groundbreaking ideas to life through our unique venture studio model.
