CoinGeto
One of India’s most advanced digital assets exchange.
| Date | Investors | Amount | Round |
|---|---|---|---|
$1.8m | Seed | ||
| Total Funding | 000k | ||
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CoinGeto, operating under the legal entity Hisun Business Solutions Pvt. Ltd., emerged in the Indian cryptocurrency market as a digital asset exchange platform. The company was established in Delhi, India, with conflicting reports placing its founding in either 2015 or 2017. The founding team consisted of Ajay Gupta, Rahul Jain, Amit Gupta, and Gunit Singh. Gunit Singh, an alumnus of Guru Gobind Singh Indraprashtha University and a cryptocurrency investor, joined forces with his co-founders to launch the venture.
The firm's primary business was to provide a platform for buying, selling, and trading a variety of cryptocurrencies. Initially starting as an over-the-counter trading platform for Bitcoin, CoinGeto aimed to evolve into a full-fledged exchange supporting over 30 currencies, including prominent names like Bitcoin, Ethereum, Litecoin, and Ripple. The platform was designed to cater to clients in India, allowing them to trade digital currencies in Indian rupees. The business model was structured around a revenue stream generated from a 0.2% transaction fee levied on trades conducted on its platform.
In a significant milestone, CoinGeto secured a pre-Series A funding round of $1.8 million (approximately ₹12 crore at the time) from the early-stage venture capital firm Impanix Capital in March 2018. This capital was earmarked for an ambitious expansion to become India's largest cryptocurrency exchange. At the time of the funding, the company reported having a beta version of its platform and serving over 10,000 clients, with aspirations to grow its user base to 300,000 within a year. Further strategic plans included the launch of its own proprietary coin, 'Geto', intended for paying transaction fees and for use with partner merchants. Despite these early ambitions and initial funding, there is a notable lack of publicly available information on the company's progress or operational status since 2018.
Keywords: cryptocurrency exchange, Indian crypto market, Bitcoin trading, Ethereum trading, digital asset platform, FinTech, Hisun Business Solutions, Ajay Gupta, Rahul Jain, Amit Gupta, Gunit Singh, Impanix Capital, pre-Series A funding, crypto trading fees, digital currency exchange, INR crypto trading, Litecoin, Ripple, Geto coin, Delhi startup