Zebpay looks to raise $5m in funding

Investing | October 18, 2016 By:

Zebpay is looking to raise series A funding of around $4-5 million and expects to close the investment by next month.

The company is in talks with a number of Indian investors as well one US-based blockchain-focused venture capital fund. It will be the second round of funding the firm has completed, having raised $1.5 million in January.

This was followed by the company’s August announcement in which it said that it has crossed over 100,000 downloads on Android and iOS. Launched in 2015, Zebpay enables users to buy and sell bitcoins, recharge their airtime across India and buy vouchers of Amazon, Flipkart etc.

The Zebpay news follows that of Unocoin, which announced a round of funding at the end of September, the highest ever raised for a cryptocurrency venture in the country. A growing interest in Bitcoin startups in India appears to stem from US investors looking for opportunities in growing markets.