KoinBasket, a Singapore-headquartered digital asset investment platform, recently finalized a $2 million pre-seed round.
KoinBasket says that it plans to use the proceeds from the investment round to further expand its professional team and onboard talent.
The round has reportedly been led by investors such as Sandeep Nailwal (Co-founder, Polygon), Omar Rahim, (Ex-Director, Binance), Navin Gupta (MD, Ripple), Ajeet Khurana, and Kube VC. Other investors, including Upsparks, Chona Family Office, Nimesh S Kampani, and Global CXOs from CITI Bank, Fiserv, Google, and Accenture, also participated in the round.
During 2022, Wealthtech entrepreneur Khaleelulla Baig had started KoinBasket, the crypto-asset investment Fintech, in order to provide various digital currency investment options to clients.
The company co-founder and CEO noted that 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.”
He also mentioned that they think 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.”
According to the company CEO, it is “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.”
Singapore‘s KoinBasket now plans to help crypto investors in choosing the appropriate crypto assets and also intends to support and empower 15 million clients in its partner ecosystem to diversify their digital asset holdings.
Sandeep Nailwal, Co-founder at Polygon, remarked:
“We are excited to back KoinBasket as they share our belief in Web3 for all. We are extremely bullish about Khaleelulla and are confident 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.”