Zebpay raise $1 million in series A funding

Investing | January 11, 2016 By:

Zebpay announced it has raise $1 million in series A funding to promote bitcoin and the blockchain throughout the South East Asian region.

The investments received from Arjun Handa, the chief managing director of Claris Life Sciences (Rs 3 crore), Amit Jindal, the director of Jindal Worldwide (Rs 1crore) and Nagendra Chaudhary, the director of Triangle Engineering (1 Rs crore), make up most of the funding Zebpay has gathered. According to the company, a large part of the funding will be used to further develop and innovate on the blockchain technology.

“Part of the funds will be spent to promote bitcoin as a reliable currency and investment option, enlist more e-vouchers on our mobile platform with a target to expand our user base from 25,000 to around one lakh (100,000) within the next one year and ultimately become a bitcoin payment gateway,” said Zebpay cofounder Saurabh Aggarwal.

Zebpay is a Bitcoin exchange and wallet.