Cryptocurrency Trading Platform Crypso Raises $3Mn Investment

A community-driven cryptocurrency trading platform Crypso has secured $3 million (about Rs 24 crore) in seed funding from Hashed Emergent, Athera Venture Partners, Whiteboard Capital, and Better Capital.

Renowned angel investors, such as Cred founder Kunal Shah and Polygon founders Sandeep Nailwal and Jaynti Kanani took part in the round.

Suraj Kalwani, Ravi Chirania, and Rakesh Raman, the co-founders of Truebil, created Crypso earlier this year to help crypto currency users learn about the newest trends in the industry and invest using trade signals for a variety of altcoins that are provided by industry professionals.

The startup will use the additional funding to expand its user base, product offerings, and technological capabilities.
As per Kalwani, The company would be able to navigate the current market dip in cryptocurrencies given its low burn rate and tight crew.

A new tax system in India has caused a decline in trade volumes for crypto trading platforms in addition to a bear market. 50,000 users have signed up for Crypso. Within the next eight to twelve months, it intends to reach one million active users.

According to Kalwani, “Building is in tremendous demand right now because the market is gloomy. Our goal is to influence individuals to visit Crypso not just to invest but also to learn where to invest. If we are successful in doing this, we believe there will be a significant increase in the consumer business”.