Crypto Exchange CoinDCX Raises Seed Funding From Bain Capital Ventures
The startup can use the contemporary funding to scale its technical infrastructure and introduce new merchandise which can bring transparency and inclusivity to its international user base.
CoinDCX was based in 2017 by Sumit Gupta associated Neeraj Khandelwal as a mortal of cryptocurrency commerce services. The startup aggregates international liquidity and commerce services onto one platform.
Geetansh Bamania, CEO & founder, RentoMojo aforementioned, “India is credit-constrained. We’ve client loaning, however not client leasing. we tend to believe that the leasing value-proposition is stronger than loaning, particularly for today’s youth that opts to pay as they use, instead of shopping for.”
According to the corporate, it’s versatile monetary instruments that target a range of commerce use cases. among a couple of months of launch, CoinDCX claimed to own gathered a user base of 50K and over 1,000,000 bucks in average daily commerce volume, each growing quick.
This development came in at a time once the govt. Is selecting the cryptocurrency regulative policy. On Feb twenty five, the highest court directed the central government to come back up with a cryptocurrency regulative policy among following four weeks.
The court conjointly dominated that it’ll return up with its judgement if the govt. fails to unleash the policy among the stipulated time.
The case was introduced once the banking concern of Bharat issued a circular forbiddance all the banks/regulated organisations from addressing any cryptocurrency entities on April half-dozen, 2018.
Bengaluru-based client leasing startup RentoMojo has raised $10 Mn serial B funding from Bain Capital Ventures and Renaud Laplanche. Existing investors Accel Partners and IDG Ventures conjointly participated within the spherical.
With this move, Salil Deshpande (MD at Bain Capital Ventures) can be a part of the RentoMojo board. Deshpande has appeared on the Forbes mythical being List of the one hundred best-performing venture investors. additionally, Renaud Laplanche (co-founder and CEO of Upgrade) also will be a part of the RentoMojo board. Laplanche is that the founder and ex-CEO of US-based P2P loaning startup loaning Club.
Talking concerning the corporate, capitalist Salil Deshpande aforementioned, “In India’s credit-constrained economy, RentoMojo has designed a defendable beachhead in multiple classes in associate underserved sector within the subscription economy, with a capital-efficient two-sided marketplace, no balance-sheet risk and network effects at scale.”
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