Funding to be used for expansion, tech investment, hiring top talent
KoinBasket, a thematic crypto investment start-up, has announced that it has raised $2 million in a pre-seed funding round led by global crypto veterans including Sandeep Nailwal, Co-founder of Polygon, Omar Rahim, former Director of Binance, Navin Gupta, Managing Director of Ripple, Ajeet Khurana and Kube VC. Other notable investors include Upsparks, Chona Family Office, Nimesh S Kampani and Global CXOs from CITI Bank, Fiserv, Google, and Accenture among others.
The Singapore based company will utilise the funding for product and geographical expansion, investment in technology aimed at enhancing customer experience, and hiring top talent.
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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 aims to become the vanguard and BlackRock for the next billion crypto investors across the world. Deep integration with global crypto exchanges will help KoinBasket provide well-researched and diversified crypto investment products to 15 million users in their partner ecosystem.
KoinBasket’s Co-founder and CEO Khaleelulla Baig said, “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.”
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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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