London-based Coinrule provides individuals and retail cryptocurrency investors with an automated crypto trading strategies platform for their assets. Today, fintech has bagged $2.2 million (nearly £1.63 million) in a seed funding round.
The investment came from a range of decorated tech founders and investors including Fitbit founder James Park, Twitch founder Kevin Lin and a fund in which Naval Ravikant is an investor among others investors including Matteo Franceschetti’s Superfund (Founder of Eight Sleeps), Zilliqa Capital (a blockchain crypto fund), YC Alums Fund, Urban Innovation Fund (a Silicon Valley fund), NZVC, Startup Leadership Program (SLP Angels), CV VC, Kube VC, NV Ventures, Christophe Lassuyt, Robin Bade, Justin Hamilton, Stelios Gerogiannakis and Dan Scarfe. Besides the investment round, Coinrule has joined the YCombinator S21 cohort.
Gabriele Musella, co-founder of Coinrule commented: “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 cryptocurrency holders the opportunity to seize market opportunities. This funding and joining the YCombinator programme 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.”
Growth during pandemic
Founded in 2018, by Gabriele Musella, Oleg Giberstein and Zdeněk Höfler, Coinrule enables cryptocurrency investors to create and test automated trading strategies for their assets to benefit from market opportunities but also to protect them against adverse events. Its mission to increase the accessibility of trading strategies and models, typically the preserve of investment banks and hedge funds, for anyone.
It eyes to become an investment ecosystem that allows users to backtest strategies, copy trades from expert investors in the marketplace, find arbitrage opportunities and automatically find the best prices across exchanges. Coinrule has already integrated it’s offering with global crypto exchanges including Coinbase, Binance, Kraken, Bitstamp among others. Also, Coinrule is uniquely positioned to become the link between the old world of finance and the new, offering an automated SaaS trading solution across all assets and platforms.
Coinrule has grown rapidly over the last 12 months and now has over 13,000 users trading assets worth £100m every month. In any given month, users are creating over 100,000 strategies on the platform as they seek greater ownership of their assets. Users can access any of the 4 plans: one is free, the others charge a tiered fee for Hobbyist, Trader and Pro plans.