The leading Indian Bitcoin trading platform, Coinsecure, has secured a whopping $1.2 million in its ‘series A’ investment round. Founded in July 2014 by Mohit Kalra and Benson Samuel, Coinsecure is the latest rich newbie to join the analytics community!
Headquatered in Delhi with a Research and Development Division in Bangalore, Coinsecure launched its Bitcoin exchange on January 1, 2015.
Since, the futuristic concept of cryptocurrency, specifically Bitcoin, is still new in India; the company has been working on bringing legitimacy to this emerging technology. Commencing with a mission of “Connecting India to Bitcoin” the focus gradually shifted towards “Building the Bitcoin and Blockchain Ecosystem in India.”
According to Mohit Kalra, the Founder and CEO of Coinsecure, “India needs a strong case to start using Bitcoin; and we are 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.”
Being the only ISO certified Bitcoin company in India, it 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.
In addition, Coinsecure has addressed key issues such as volatility, ease of use and localization. Also, they have 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 not only understand this technology but to also implement it.
Benson Samuel, the CTO and Co – Founder of Coinsecure is confident about addressing some key pain points in the crypto space as well as providing new enterprise Blockchain solutions. Furthermore, his clear vision about further innovation involves plans of implementing Blockchain technology in various industries including the banking and manufacturing sectors.
Having established a strong foothold in the Bitcoin ecosystem with the highest liquidity and volumes, they maintain 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.
Upon the completion of the ‘Series A’ round, the company plans to enter the Blockchain based enterprise solutions domain. The funds raised will be used to expand the company’s reach in both domestic and international markets and to introduce Ethereum and other Blockchain innovations.