MyHero, the Singapore-based outfit behind a mobile stock market simulation app, has raised US$10 million in series a funding from Kleiner Perkins Caufield Byers China fund and IPV Capital.
The TradeHero app has proved a huge hit since launching six months ago, hitting the number one position in the iOS app store's finance category in 75 countries, pulling in 250,000 users.
The game gives players a $100,000 starting portfolio which is used to place virtual trades across 14 exchanges, using real-world data. Users can set up leagues to compete against friends and bid to top the global leaderboards.
In addition, players can pay a subscription fee to follow the top ranked traders, dubbed 'heroes', getting real-time trading data - that can be used in the real world - sent to their phones. MyHero and the 'heroes' split the fee.
Dinesh Bhatia, CEO, MyHero, says: "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.
"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. We are energized and excited by the potential to address these growing markets."