Singapore-based cryptocurrency startup Koinbasket has raised $ 2 million in funding, led by experienced crypto expert Sandeep Nailwal (co-founder, Polygon), Omar Rahim (former director, Binance), Navin Gupta (managing director, Rip). ), Ajeet Khurana and Kube VC. Other investors include Upsparks, Chona Family Office, Nimesh S Kampani and Global CXOs from CITI Bank, Fiserv, Google and Accenture, among others.
Co-founder and CEO Khaleelulla Baig said: “The world of cryptocurrencies is growing rapidly and is almost in a phase of over-exploitation, with the cryptocurrency 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 themed crypto baskets that are easy to understand and easy to invest for retail investors. This is a great confirmation for Koinbasket to see world-famous crypto veterans join us in our vision to stimulate the widespread adoption of cryptocurrencies around the world.
Koinbasket, founded by Khaleelulla Baig in 2022, provides consumers who are interested in investing money in cryptocurrency with a more secure option, similar to equity mutual funds. Koinbasket maintains integration with multiple exchanges around the world to provide its current user base of 15 million, comprehensive data for choosing a set of cryptocurrencies from the thousands available on the market. Koinbasket aims to replicate Vanguard and BlackRock for the next billion crypto investors worldwide.
Sandeep Nailwal, co-founder of Polygon, said: “We are excited to support KoinBasket as they share our faith in web3 for all. We are extremely optimistic about Khaleelulla and are confident that the company will lead the next wave of disruptions in the BFSI space. Looking at the net growth and potential of the crypto market, we believe that KoinBasket has the full potential to be a product for the next billion crypto investors.
Nailwal Polygon’s own generation, Ethereum scaling platform, recently won $ 450 million from over 40 venture capital groups.