Twitch, Google’s Fitbit, and Kayak founders are among the investors in the $2.2 million fundraising round, which comes as Coinrule’s monthly income increased 43 percent month over month, indicating that more crypto investors are becoming proactive.
FREMONT, CA: The benefits of crypto currencies to the global economy are said to vary from reduced transaction fees for online money exchange to enhanced security against identity theft due to cryptocurrencies' safe nature. Coinrule, a fintech firm that provides individual and retail cryptocurrency investors with an automated trading platform for their assets, confirms a $2.2 million initial fundraising round. The financing included several well-known technology innovators and investors, including Fitbit Founder James Park, Twitch founder Kevin Lin, Kayak Founder Paul English, and a fund in which Naval Ravikant is an investor. Coinrule has also joined the YCombinatorS21 cohort.
Speaking about the investment, Gabriele Musella, the Co-founder of Coinrule, comments, “Coinrule is perfectly placed between two super trends, hyper financialization and the growth of automation in the world. We are bridging these trends to bring everyday crypto currency holders the opportunity to seize market opportunities. This funding and joining the YCombinator program has put us in a good place to deliver our mission for financial inclusion by giving people the tools to compete in a new world of trading.”
“Crypto trading volumes account for over 10 percent of US equity trading and there are more than 60m active crypto traders worldwide. Moreover, our insights tell us there are some 360m people owning crypto assets worldwide with 82 percent who are keen to act quickly to market changes but feel constrained by the lack of means to do so. The opportunity is clear and present for Coinrule to help a range of people with crypto assets to generate value and protect their assets. Over the next 5 years, we plan to expand our user base to over 2 million and automate $100 billion in crypto trading volume,” adds Gabriele Musella.“The world of finance is changing. Up to 90 percent of global markets are managed by bots and run by investment banks and hedge funds, leaving the average investor with few tools to compete. Learning to trade manually is difficult and time consuming and the relative knowledge of professional and hobbyist investors is very different, and so is their access to opportunities.”
Gabriele Musella concludes, “The new world of finance requires leveling the playing field between regular traders and hedge funds. Until that point is reached, we will continue to innovate and increase accessibility of the Coinrule platform to all. Long term, we intend to expand into traditional assets such as stocks as well as the new field of Decentralized Finance. Adding decentralized apps to Coinrule strategies would open endless opportunities like staking coins, smart routing and trading synthetic assets. All of this will be possible from one single interface enhanced with the power of automation.”
