Mumbai, July 27th, 2022: Community-led investing platform for cryptocurrencies, Crypso, has raised $ 3 million in seed funding from Hashed Emergent, Athera Venture Partners (formerly Inventus), Better Capital, Whiteboard Capital, Polygon founders Sandeep and Jaynti, Kunal Shah of CRED, and other prominent angel investors.
The company will use the fresh round of funding to grow its user base and increase the breadth of product offerings and technology.
Founded in 2022 by Truebil.com founders Mr. Suraj Kalwani, Mr. Ravi Chirania, and Mr. Rakesh Raman, Crypso is India’s first-of-its-kind community-focused platform that enables crypto users to learn and discover the latest crypto trends, and invest via one-click trade signals on various altcoins generated by crypto experts.
Focused on millennials and GenZ users, Crypso is on a mission to simplify crypto and offer guided access to retail users with a community-first approach. Within a month of launch, the android only platform has accumulated over 50,000 actively engaged users and over 100 crypto influencers, creators, and experts who are using the app for daily crypto trends and updates with more than 25% of these users trading via social signals. The platform also witnessed more than 1 Cr in trade volumes within a couple of weeks after the launch.
Suraj Kalwani, Co-Founder and CEO, Crypso, said, “Crypto is fundamentally a social asset class and young Indian users actively engage with peers, influencers, and investment communities for crypto updates, analysis, and investment signals. With Crypso, we’re bridging the discovery and transaction loop with a strong hook around guided crypto investing. Users can connect with peers and experts, follow their portfolio movements, and stay on top of crypto trends and investing opportunities.”
Connecting new crypto investors, influencers, and experts on a single platform, the platform is helping users learn new strategies by participating in community group chats.
“This seed funding coming from marquee early investors, angels, and crypto-focused investors provides us with the fuel for growth and turbocharges our belief towards building a delightful consumer app for the growing crypto user base in India,” he added.
Speaking of the funding, Tak Lee, CEO & Managing Partner of Hashed Emergent , said “We are excited to back Suraj and team on their journey to build a user friendly interface for Indian Web3 users. We like the fact that they are building for the young Indian users who will potentially be the early ones to adopt Crypto in India as we have seen across the globe.
Rutvik Doshi, Managing Partner at Athera Venture Partners(formerly Inventus), said “We have been partners with Suraj and team at Truebil and have seen first hand on their ability to solve complex problem statements. Delighted to back them this time with Crypso from Day 1.”