Formerly named BuySellBitco.in, Zebpay plans to use the funds to ramp up its blockchain-based services and acquire talent
Singapore-and India-based mobile Bitcoin wallet app Zebpay has raised around US$1 million in Series A funding, led by Arjun Handa, CMD and VP of Claris Lifesciences. It also saw participation from a few other angels, including Amit Jindal, MD of Jindal Worldwide.
Zebpay, formerly known as BuySellBitco.in, plans to utilise the funds to ramp up its ‘blockchain-based’ services and for talent acquisition.
A blockchain is a public ledger of all Bitcoin transactions that have ever been executed.
Founded in 2012 by Mahin Gupta, Sandeep Goenka and Saurabh Agrawal, Zebpay is a mobile Bitcoin wallet that allows users to buy, sell and store the cryptocurrency. Users can also use it to buy online vouchers and recharge mobile phones across India.
BuySellBitco.in was re-branded to Zebpay in 2014.
The company claims to have over 25,000 users currently. It looks to add 100,000 more this calendar year.
Zebpay has set up a dedicated blockchain lab to leverage innovation authentication, authorisation and proof of existence.
The Singapore-registered company, which also has an office in India, also said it is working with a few government sections to offer blockchain solutions.
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