KoinBasket, a thematic crypto investment start-up, has raised $2 million in a pre-seed funding round led by Polygon co-founder Sandeep Nelwal; Former Binance Director Omar Rahim; Ripple Managing Director Naveen Gupta; Ajit Khurana and Cube VC.
Other notable investors include Upsparks, Chona Family Office, Nimesh S Kampani and Global CXO of Citibank, Fisher, Google and Accenture.
The Singapore-based start-up will use the funds to invest in technology and hire top talent to enhance product and geographic expansion, customer experience.
KoinBasket was founded in 2022 by Khalilullah Baig, a money-tech entrepreneur with over a decade of experience in regulation-heavy areas such as insurance, stock broking, wealth management and the crypto space. The start-up offers diverse crypto investment products to 15 million users in its partner ecosystem.
Khalilullah Baig, Co-Founder and CEO, KoinBasket, said, “The crypto world is rapidly evolving and is close to rapid adoption with a crypto user base with the potential to reach two billion users by 2030. We believe There is a strong need to fill the global void of crypto mutual funds with thematic crypto baskets that are easy to understand and easy to invest in for retail investors.Globally renowned for mass adoption of crypto across the globe It is a great recognition for CoinBasket to have the crypto giants join our vision.”
Sandeep Nelwal, Co-Founder, Polygon, said, “We are excited to support CoinBasket, as they share our belief in Web3 for All. We are extremely excited about Khalilulla and are confident that the company will lead the next wave of disruption in the BFSI space. Given the massive growth and potential in the crypto market, we believe CoinBasket has the full potential to become the go-to product for the next billion crypto investors.”