Bitcoin trading platform Coinsecure has raised over $1.2 million from a group of undisclosed angel investors from India. The company said this fund raise is part of its ongoing Series A round.
The funds will be utilised to expand the company’s reach in both domestic and international markets, and introduce Ethereum and other Blockchain innovations. The funds will also go into strengthening the marketing and engineering teams, increase the banking partners and develop the app, which will be launched by the end of this month. The company also plans to increase the number of employees from 20 to 30 by the end of this year.
Having partnered with Axis Bank, Yes Bank and HDFC Bank, Delhi-based Coinsecure allows users to buy, sell and accept Bitcoin. Coinsecure in a statement said that enabling Bitcoin to go mainstream does not just mean creating the strongest platform for buying and selling Bitcoins but also to educate users on the merits of Blockchain technology to grow India’s Bitcoin user base.