KoinBasket, a thematic crypto investment start-up, announced in a release on Thursday that the company has raised $2 million in a pre-seed funding round.
The company further announced in a statement that the round was led by global crypto veterans including Sandeep Nailwal, co-founder of Polygon, Omar Rahim, former Director of Binance, Navin Gupta, Managing Director of Ripple, crypto expert Ajeet Khurana, and Kube VC.
Other notable investors as per the release were Upsparks, Chona Family Office, Nimesh S Kampani and Global CXOs from CITI Bank, Fiserv, Google, and Accenture others.
The Singapore based company announced in a release that it will utilise the funding for product and geographical expansion, investment in technology aimed at enhancing customer experience, and hiring top talent.
Interestingly, KoinBasket was founded in 2022 by Khaleelulla Baig, a wealth-tech entrepreneur with more than a decade of experience in regulation-heavy sectors such as insurance, stock broking, wealth management, and crypto space.
The startup further announced that it aims to become the ‘Vanguard’ and ‘BlackRock’ for the next billion crypto investors across the world. They also announced in the release that deep integration with global crypto exchanges will help them provide well-researched and diversified crypto investment products to 15 million users in their partner ecosystem.
KoinBasket’s co-founder and CEO Khaleelulla Baigsaid,“The crypto world is evolving rapidly and is in a near hyper-adoption phase with the crypto user base growing significantly with the potential to reach two billion users by 2030. We believe there is a strong need to fill the global vacuum of crypto mutual funds with thematic crypto baskets that are easy to understand and simple to invest for retail investors. It’s a great validation for Koinbasket to see globally renowned crypto veterans joining us in our vision to drive mass-adoption of cryptos around the world.”
Sandeep Nailwal, co-founder of Polygon said, “We are excited to back KoinBasket, as they share our belief in web3 for all. We are extremely bullish about Khaleelulla and are confident that the company will spearhead the next wave of disruption in the BFSI space. Looking at the sheer growth and potential in the crypto market, we believe KoinBasket has all the potential to be the go-to product for the next billion crypto investors.”
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