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Indian Bitcoin Exchange Coinsecure Raises $1.2 Million

Avatar newsbtc 4 years ago

Indian Bitcoin exchange Coinsecure has announced that their Series A investment round has been quite successful so far. The company raised US$1.2m to data, and the investment round is expected to be closed shortly.

Also read: BitPay Issues Coinbitclip Trojan Warning over Suspicious Bitcoin Transactions

Another Notch in the Belt for Coinsecure

Bitcoin and India seem to be a match made in heaven, as the presence of an emerging market combined with a disruptive financial ecosystem has a lot of potential. That promise has lead to various Bitcoin exchanges popping up in India, including Coinsecure. However, running an exchange platform is not cheap, and raising additional funds will become a necessity at some point.

Since January of 2016, the Indian Bitcoin exchange has been attempting to raise additional capital through their Series A investment round. Things seem to be off to a rather slow start until the company recently announced they had raised US$1.2m. As a result of this preliminary success, the investment round will be closed very soon.

Coinsecure CEO and Founder Mohit Kalra stated:

“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.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.”

What makes this Bitcoin platform so appealing to investors is how the company uses an algorithmic trading Bitcoin exchange, among other services. One of their more popular offerings is a way for novice users to experience how Bitcoin trading works, without spending real money. Moreover, the company has several global partners to bring their service to other countries in the world.

The team is strongly focusing on developing new products and services to boost Bitcoin adoption in India. Through several of their outreach programs, the company has aided several institutions to gain a better understanding of Bitcoin technology as a whole. Benson Samuel, CTO of Coinsecure, has also hinted at bringing blockchain technology to various other industries, including the manufacturing sector.

Now that the company’s Series A investment round will be coming to a close, there are plans on the table to venture into the world of enterprise blockchain solutions. However, Coinsecure remains open to offers from potential investors, who can get in touch with the team via email.

Source: Coinsecure Blog

Header image courtesy of Coinsecure

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