Descrypt
Track all your crypto investments.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor investor | €0.0 | round |
$1.0m | Seed | ||
| Total Funding | 000k | ||
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Descrypt is a financial technology company headquartered in Bengaluru, India, that has developed a platform for tracking cryptocurrency investments and managing tax obligations associated with them. The company was founded in 2022 by Raghuram Trikutam, Abhishek Uppala, and Arun S Jadhav. The founders combined their industry experience and technical skills to address the complexities and information imbalances that investors face in the crypto market.
The core of Descrypt's business is a platform that enables users to monitor their crypto assets across both centralized finance (CeFi) and decentralized finance (DeFi) platforms. This service is designed for cryptocurrency investors who often use multiple exchanges and wallets, making it difficult to track transactions and calculate taxes accurately. The platform provides a unified view of a user's entire crypto portfolio, offering insights to help them make more informed investment decisions. By integrating directly with exchange APIs, Descrypt aims to provide a high degree of accuracy in tracking transactions.
Descrypt generates revenue by offering its services at economical prices, positioning compliance as an affordable necessity for investors. A key feature of the platform is the ability to generate profit and loss (P&L) reports that are compliant with tax regulations, which users can download. To enhance its tax-related services, the company has formed partnerships with tax filing platforms like ClearTax and Taxbuddy. Additionally, Descrypt offers a service called "Notice Mitra," which connects users who have received an IT notice with a panel of chartered accountants for guidance. In October 2022, the company secured early-stage VC funding from investors including Investopad, peercheque, and Bharat Founders Fund, along with several angel investors.
Keywords: cryptocurrency tax, crypto portfolio tracking, digital asset management, fintech, tax compliance, CeFi and DeFi tracking, crypto tax reporting, investment tracking platform, Bengaluru startup, Raghuram Trikutam, Abhishek Uppala, Arun S Jadhav, crypto tax software, profit and loss reports, Notice Mitra, crypto compliance, digital currency, blockchain finance, investment tools, financial software