Fintech Firm Coinrule, a Provider of Automated Digital Asset Trading Services, Secures $2.2M via Seed Round

Fintech firm Coinrule, which offers individual and retail crypto investors an automated digital currency trading platform for their assets, reveals that it has completed a $2.2 million seed round.

As mentioned in the announcement, several technology company founders and investors took part in the firm’s investment round including Fitbit founder James Park, Twitch founder Kevin Lin and a fund in which Naval Ravikant is an investor (among others).

Coinrule has also joined the YCombinator S21 cohort, according to a release shared with CI.

Established in 2018, by Gabriele Musella, Oleg Giberstein and Zdeněk Höfler, Coinrule enables crypto-asset investors to create and test automated trading strategies for their assets “to benefit from market opportunities but also to protect them against adverse events.”

It was developed with the goal to “increase the accessibility of trading strategies and models, typically the preserve of investment banks and hedge funds, for anyone.” As noted in the update, Coinrule offers algorithmic trading “without having to learn a single line of code.” Users are able to access one of 4 plans: “one is free, the others charge a tiered fee for Hobbyist, Trader and Pro plans.”

Gabriele Musella, Co-founder of Coinrule, stated:

“Coinrule is perfectly placed between two super trends, hyper financialization and the growth of automation in the world. We are bridging these trends to bring everyday crypto currency holders the opportunity to seize market opportunities. This funding and joining the YCombinator programme has put us in a good place to deliver our mission for financial inclusion by giving people the tools to compete in a new world of trading.”

Coinrule has steadily grown its business operations during the past year and now has more than 80,000 users trading assets valued at £100m each month. In any given month, users are “creating over 100,000 strategies on the platform as they seek greater ownership of their assets,” the release noted.

Gabriele Musella noted that virtual currency trading volumes account for more than 10% of US equity trading and there are 60 million+ active cryptocurrency traders globally. Musella added that their insights tell them there are “some 360m people owning crypto assets worldwide with 82% who are keen to act quickly to market changes but feel constrained by the lack of means to do so.”

Musella further noted that the opportunity “is clear and present for Coinrule to help a range of people with crypto assets to generate value and protect their assets.” Musella added that in the next 5 years, they intend to expand their user base to more than 2 million and automate $100 billion in cryptocurrency trading volume.

Mussella added:

“The world of finance is changing. Up to 90% of global markets are managed by bots and run by investment banks and hedge funds, leaving the average investor with few tools to compete. Learning to trade manually is difficult and time consuming and the relative knowledge of professional and hobbyist investors is very different, and so is their access to opportunities.”

Coinrule’s goal is to become an investment ecosystem that “allows users to backtest strategies, copy trades from expert investors in the marketplace, find arbitrage opportunities and automatically find the best prices across exchanges.”

Coinrule has integrated its product offering with major crypto-asset trading platforms such as Coinbase, Binance, Kraken, and Bitstamp.

Gabriele Musella also mentioned that the new world of finance “requires leveling the playing field between regular traders and hedge funds.” Until that point is reached, “we will continue to innovate and increase the accessibility of the Coinrule platform to all,” Mussella said.

Musella also noted:

“Long term, we intend to expand into traditional assets such as stocks as well as the new field of Decentralized Finance. Adding decentralized apps to Coinrule strategies would open endless opportunities like staking coins, smart routing and trading synthetic assets. All of this will be possible from one single interface enhanced with the power of automation.”

Coinrule is positioned to become “the link between the old world of finance and the new, offering an automated SaaS trading solution across all assets and platforms,” the company claims.

Other investors in Coinrule reportedly include: Matteo Franceschetti’s Superfund (Founder of Eight Sleeps), Zilliqa Capital (a blockchain crypto fund), YC Alums Fund, Urban Innovation Fund (a Silicon Valley fund), NZVC, Startup Leadership Program (SLP Angels), CV VC, Kube VC, NV Ventures, Christophe Lassuyt, Robin Bade, Justin Hamilton, Stelios Gerogiannakis and Dan Scarfe.

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