Asia’s first funded trader program, MPFunds, has announced that it secured SG$1.5 Million in a pre-seed funding round from a prominent Singaporean angel investor.
The successful round will fast-track the company’s expansion plans across the wider Asia Pacific region and cater to a growing audience by scaling its platform.
MPFunds, which made its debut on 4 May 2023, aims to democratise financial access by offering up to US$400,000 (approximately SG$533,000) trading capital to traders.
Dean Wong, CEO of MPFunds, stated that the company’s focus is on establishing a conducive trading ecosystem that assists traders, especially undercapitalised ones, on their journey.
The company goes beyond capital provision by offering professional trading courses led by economist Dr. Tan Kee Wee. MPFunds has also partnered with Annabelle Psychology to provide psychological support to traders.
The investment will help achieve several strategic objectives including team expansion, platform improvement, security enhancement, and comprehensive market research for wider Asian market expansion.
MPFunds plans to educate the public on the potential benefits of Funded Trader Programmes.
MPFunds will be hosting an informational session, “Empowering Traders: Multiply Your Profits with Funded Capital,” on 27 June 2023, to help traders network, learn more about its technology, and start their trading journey.
In a bid to accelerate growth, MPFunds targets rapid market expansion in the third quarter of 2023, focusing on key markets such as Malaysia, Thailand, Vietnam, and Taiwan.