Cryptocurrency investing platform Crypso has raised $3 million in seed funding. The round saw participation from investors such as Hashed Emergent, Athera Venture Partners (formerly Inventus), Better Capital, Whiteboard Capital, Polygon founders Sandeep and Jaynti, Kunal Shah of CRED, and other angel investors.
The platform plans to use the fresh round of funds to grow its user base and increase the breadth of its product offerings and technology.
According to Suraj Kalwani, co-founder and CEO, Crypso, crypto is a social asset class and young Indian users engage with peers, influencers, and investment communities for crypto updates, analysis, and investment signals. “With Crypso, we aim to bridge the discovery and transaction loop with a hook around guided crypto investing. Users can connect with peers and experts, follow their portfolio movements, and get updates on crypto trends and investing opportunities,” he added.
“We look forward to back Suraj and team on their journey to build a user-friendly interface for Indian Web3.0 users. We aim to support their initiative to build for the young Indian users who will potentially be the early ones to adopt crypto in India as we have seen across the globe,” Tak Lee, CEO and managing partner, Hashed Emergent , said.
Connecting new cryptocurrency investors, influencers, and experts on a single platform, the platform aims to help users learn new strategies by participating in community group chats.
As per an official statement, the platform is on a mission to simplify cryptocurrency and offer access to retail users with a community-first approach. Within a month of launch, the platform claims to have accumulated over 50,000 users and over 100 cryptocurrency influencers, creators, and experts who are using the app for daily cryptocurrency trends and updates with more than 25% of these users trading through social signals. The platform also claims to have witnessed more than one crore in trade volumes within a couple of weeks after the launch.