Indian Bitcoin Coinsecure raised $1.2M as angel funding by a group of undisclosed angel investors. Coinsecure is one of the growing bitcoin startup in India, co-founded by Mohit Kalra and Benson Samuel in July 2014.
Coinsecure is an algorithmic trading platform, and a bitcoin wallet ( Where one can save bitcoins ). Apart from that, the recent initiatives took by Coinsecure to popularise bitcoin technology in India gained a lot of attention.
Bitcoin transaction in India are growing at a very good speed and is preferred over credit cards because of it’s low transaction fees, and has become one among the biggest consumers of BTC worldwide. Though there are only a few companies in India who are dealing with bitcoin, like coinsecure, zebpay, unocoin etc, more and more since both the government and private financial institutions are positive about the technology.
Benson Samuel,Co-Founder of Coinsecure said,they are planning to increase their team size to 30 employees by the end of 2016.
Coinsecure has a set a record investment as angel funding in any bitcoin company. Recently Unocoin bitcoin startup raised $250,000 and Ahmedabad Based Zebpay raised $1M in series A funding.
Mohit Kalra, Founder of Coinsecure Said
“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,”
Currently Coinsecure is functioning from Delhi and Bangalore. Coinsecure has already Partnered with Banking giants like Axis Bank, HDFC Bank and Yes Bank and are trying to partner with more banking partners after the fundraising.