Place/Date: Delhi, India - April 18th, 2016 at 1:43 pm UTC · 4 min read
Coinsecure, the leading Indian Bitcoin trading platform, has announced a raise of $1.2 million as part of its ongoing ‘Series A’ investment round. The company opened the fund-raising round earlier in January this year and expects to close the round soon.
With deep roots in the early years of Bitcoin in India, Coinsecure formed as a company, with a directive to create a Bitcoin ecosystem to address India’s growing needs. The company has developed some amazing products so far working on an earlier seed round.
Coinsecure joined the Bitcoin Foundation as an Industry Member and also became a Silver Founding Donor for the BitGive Foundation. Coinsecure recognizes that enabling Bitcoin to go mainstream does not just mean to create the strongest platform for buying and selling Bitcoin but to also educate on the merits of Blockchain technology to grow India’s Bitcoin user base.
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 and has a number of integrations with global partners including Netki.
Founded in July 2014 by Mohit Kalra and Benson Samuel, Coinsecure launched its Bitcoin exchange on January 1, 2015. As the futuristic concept of cryptocurrency, specifically Bitcoin, is still new in India; the company has been working on bringing legitimacy to this emerging technology. The company set out with the mission of “Connecting India to Bitcoin” and is now gradually shifting towards “Building the Bitcoin and Blockchain Ecosystem in India”.
Coinsecure has robust practices aimed at user security and compliance and constantly evolve their platform. Several of Coinsecure’s outreach programs across India have enabled numerous schools, colleges and IT/ ITES departments to understand this technology, implement and use.
“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.”
says Benson Samuel, the CTO and Co – Founder of Coinsecure. He has a clear vision about further innovation involving Blockchain technology in various industries including the banking and manufacturing sectors apart from others.
Coinsecure has established a strong foothold in the Bitcoin ecosystem with the highest liquidity and volumes compared to all the other Bitcoin exchanges and brokerages in India, while maintaining fully transparent and open order books, with records starting from the very first trade on the platform dating back to January 6, 2015. The company now consistently handles over 3000 BTCs a month in terms of volume and has shown increasing volumes every month since they started operations.
According to Mohit Kalra, the Founder and CEO of Coinsecure,
“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.”
Coinsecure also addresses key problem areas for Bitcoin such as volatility, ease of use and localization and has constantly proven its ability to deliver beyond expectations. Mohit Kalra also mentioned that,
“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. ”
Upon the completion of the ‘Series A’ round, the company has plans to enter the Blockchain based enterprise solutions domain. Investors interested in being part of the fund-raising round are encouraged to reach out directly to Coinsecure.
Coinsecure, registered as Secure Bitcoin Traders Pvt. Ltd. is a leading Bitcoin platform in India. It is the only ISO certified Bitcoin company that offers Bitcoin wallet, exchange, trading and merchant services along with other Blockchain based services. Coinsecure has a strong developer platform with a range of APIs. The company is foraying into other Bitcoin and Blockchain related applications as well. The company has its Head Office in Delhi and the Research and Development Division in Bangalore.
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