Singapore based crypto investment start-up Koinbasket has attracted pre-seed round funding of $2Mn led primary by seasoned crypto expert Sandeep Nailwal (Co-founder, Polygon), Omar Rahim (Former Director, Binance), Navin Gupta (Managing Director, Ripple), Ajeet Khurana and Kube VC. Other investors include Upsparks, Chona Family Office, Nimesh S Kampani and Global CXOs from CITI Bank, Fiserv, Google, and Accenture among others.
Co-founder and CEO Khaleelulla Baig said, “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. We believe 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. It’s 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.”
Koinbasket, founded by Khaleelulla Baig in 2022, provides consumers interested in investing money in cryptocurrency a safer option, similar to mutual funds in the stocks domain. Koinbasket maintains integration with multiple exchanges across the globe in order to provide its current userbase of 15 million, comprehensive data to select a set of cryptocurrencies out of the thousands available in the market. Koinbasket aims to replicate vanguard and BlackRock for the next billion crypto investors across the world.
Sandeep Nailwal, Co-founder of Polygon said, “We are excited to back KoinBasket, as they share our belief in web3 for all. We are extremely bullish about Khaleelulla and are confident that 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.”
Nailwal’s own brainchild Polygon, an Ethereum scaling platform, recently raked in $450 Mn from over 40 venture capital groups.