Indian Bitcoin trading platform Coinsecure has announced a raise of $1.2 million in the recent blog post. The company says the investment is a part of an ongoing ‘Series A’ investment round that was opened in January. The fund-raising round is expected to be closed in the near future. When the ‘Series A’ round is completed, Coinsecure will enter the Blockchain based enterprise solutions domain.
Coinsecure focuses on basic bitcoin problems such as volatility, ease of use and localization and does its utmost to create a worthful product. Mohit Kalra, the founder and CEO, says: “The funds raised by the company will be used to expand the company’s reach in both domestic and international markets. Coinsecure will also be using these funds to further explore global markets and to introduce Ethereum and other Blockchain innovations. ”
Coinsecure was founded by Mohit Kalra and Benson Samuel in July 2014 and started its Bitcoin exchange at the very beginning of 2015. As India was only formally familiar to the notion of cryptocurrency, the company struggled to bring legitimacy to the emerging technology. And the company succeeded in its efforts. While the launch was marked with the mission of “Connecting India to Bitcoin”, now it has shifted towards “Building the Bitcoin and Blockchain Ecosystem in India”.
Among its core services, Coinsecure offers an algorithmic trading Bitcoin exchange, a Blockchain explorer, full free API’s for all their Products, a mock trading platform for users to try trading without real money, On-Chain and Off-Chain wallet services along with several integrations with global partners including Netki.
Coinsecure became an Industry Member of the Bitcoin Foundation and a Silver Founding Donor of the BitGive Foundation. The company sees education of Indian users as one of its primary goals because just enabling Bitcoin to go mainstream and creation of the reliable platform for bitcoin trading is not enough.
Coinsecure has already conducted several outreach programs across India that resulted in the launch of numerous schools, colleges and IT/ ITES departments with one basic aim – to understand the technology, implement and use. Benson Samuel says: “The coming years are all about improving our products, building new ones, and providing enterprise Blockchain solutions, to address some key pain points in the crypto space.” He believes that further employment of Blockchain technology in various industries including the banking and manufacturing sectors is real.
Mohit Kalra says about his company: “India needs a strong case to start using Bitcoin. And Coinsecure is on the verge of delivering a solution for Indian merchants and users to engage with Bitcoin, and its experience, without any volatility or conversion risks.”