ZebPay, the Indian Bitcoin Mobile wallet and exchange has today announced that it has successfully raised $1 million in Series A funding. The series A funding round was led by a group of angel investors who have strong belief in the company and Indian Bitcoin sector.
In a press release, ZebPay mentions that the company will be utilizing the funds to accelerate its growth by further improving their customer service and product offering. ZebPay has been around in the Indian Bitcoin market since 2012. Previously known as BuySellBitco.in, the company reinvented itself into ZebPay by adopting the mobile platform. BuySellBitco.in was a online bitcoin exchange facilitating bitcoin and litecoin trading. With ZebPay, the company has focused their attention completely towards bitcoin. In addition to buying and selling bitcoins on the applications users can also use bitcoin to pay their cell phone bills, buy credits and also gift cards for major e-commerce players in India like Flipkart, Amazon, BookMyShow and more.
Investors in ZebPay includes private equity investor, Arjun Handa from Claris Group, Amit Jindal from Jindal Worldwide and Nagendra Chaudhary of Triangle Engineering. The investors have stated that they have invested in bitcoin company because they find ZebPay to hold a lot of promise and the founding team has a great combination of business and tech acumen which drove them to invest in it.
Currently ZebPay has over 25000 users who buy, sell, make transactions and purchases using bitcoin over the platform. ZebPay application is available for Apple and Android mobile devices. With the influx of cash and increasing awareness about bitcoin, ZebPay intends to hit 100000 users mark and touch $100 million in turnover. ZebPay is also a winner of CoinAgenda’s Best New Company Award in October 2014.