Delhi-headquartered Bitcoin trading platform Coinsecure announced today that it raised over $1.2 million as part of its ongoing ‘Series A’ investment round. The fund-raising round started in January this year and the exchange expects to close the round soon. The raised funds will be used to introduce Ethereum trading and upon the completion of the round, Coinsecure plans to enter the enterprise blockchain solutions space.
Founded in July 2014 by Mohit Kalra and Benson Samuel, Coinsecure launched its Bitcoin exchange on January 1, 2015. It offers algorithmic trading, a Blockchain explorer, a demo platform for users to try trading without real money, On-Chain and Off-Chain wallet services and also has a number of integrations with global partners. The company boasts that it now consistently handles over 3000 BTCs a month in terms of volume and has shown increasing volumes every month since starting operations.
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“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.
Mohit Kalra, the founder and CEO of Coinsecure, added: “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.”