Unocoin, India’s Leading Bitcoin Company, Raises $1.5M To Set National Record

Posted at 8:02 am on September 30, 2016 under News

Pre Series-A Round Saw Participation From Top Indian & International Investors

Co-founders (left to right): Sunny Ray (President), Sathvik Vishwanath (CEO), Harish B V (COO), Abhinand Kaseti (CMO)

September 29, 2016 – Bangalore, India – Unocoin, a Bangalore based Bitcoin startup, has raised $1.5 million in a Pre Series-A round, the highest total raised for a digital currency venture in Indian history. Funding was sourced from well-known Indian entities such as Blume Ventures, Mumbai Angels and ah! Ventures along with prominent international investors such as Digital Currency Group, Boost VC, Bank to the Future, Bitcoin Capital and FundersClub.


“We’re honoured to have this type of support from top investors,” remarked Unocoin co-founder and CEO, Sathvik Vishwanath. “We started from my small hometown called Tumkur near Bangalore and our goal from the beginning was to make it easy to get bitcoin in India. A few years later, we are now headquartered in Bangalore with 30+ employees, serving more than 100,000+ customers across the country and growing exponentially. Given our steep growth rate, we’re looking to serve millions more in the coming years.”


“These are exciting times,” Vishwanath continued. “India has the largest gold, inward remittance, and IT markets in the world, all of which make it a perfect home for Bitcoin and blockchain technology.”


Blume Ventures, headquartered in Mumbai, has played a pivotal role in leading the Unocoin Pre Series A round. According to Karthik Reddy from Blume Ventures, it was the belief in the team at Unocoin that encouraged Blume to participate. Reddy said, “In Sathvik and team, we discovered not only the leading Bitcoin company in India, but a determination to educate all stakeholders, simplify Bitcoin’s usage, and bring another frictionless layer to payments and commerce. We are confident that Unocoin will further alter the landscape and make additional inroads into remittances and e-commerce in India.”


Digital Currency Group, based in New York City, supports Bitcoin and blockchain companies by leveraging their insights, network, and access to capital with over 80 investments in more than 25 countries. Barry Silbert, Founder and CEO of Digital Currency Group, said, “Since making our first investment in Unocoin, it has been tremendous to see the company solidify its position as the leading Bitcoin company in India, as well as emerge as one of the fastest growing companies in DCG’s global portfolio of 80 Bitcoin and blockchain companies. We are thrilled to welcome this fantastic group of new investors to Unocoin and look forward to many more years of rapid growth and industry leadership by the company.”


Adam Draper, Founder of Boost VC, said, “Unocoin continues to make an enormous impact on the global Bitcoin market and will continue to be a global market leader. Proud to have them be a part of Boost VC. They just keep growing!!!”


Commenting on their investment into Unocoin, Harshad Lahoti, Founder and CEO of ah! Ventures said, “It’s no secret that usage of bitcoin is picking up rapidly and the concept has seen a warm welcome from freelancers and retailers in India. That’s when Unocoin, a venture backed by a strong team with industry acumen and a rocketing number of users, caught our attention. We believe Unocoin will continue to be one of the strongest players in India’s booming crypto-currency market.” ah! Ventures is India’s first full-spectrum startup investment network and platform comprising of over 700+ investors, including renowned angels and early-stage VCs.


Addressing the role of Bitcoin in the Indian economy, Simon Dixon, CEO of Bank To The Future and fund manager of Bitcoin Capital, said, “In India, 95% of the people do not have credit cards and 50% are unbanked due to the country’s poor financial and payments infrastructure. We believe Bitcoin has a role to play in India in the long term and are happy to join the round of the leading bitcoin company in India.” In reference to the investment, Max Keiser, Founder of Bitcoin Capital and StartJOIN had this to say, “Unocoin is leading the charge when it comes to bringing bitcoin to India. We are excited to be working with this world-class team and look forward to supporting their continued growth trajectory.”


Sharing the story behind Unocoin, Co-founder and President of Unocoin Sunny Ray said, “We started this company with the mission to bring bitcoin to billions. Bitcoin opens up a world that simply wasn’t possible before. When we got started four years ago, we saw a once in a lifetime opportunity to build out a secure platform for people to easily access bitcoin. Empowered with our current round of financing from many of the best investors in the world, we believe that Unocoin is strategically positioned to reach millions of people in the next few years. In the future, we believe that bitcoin has the potential to take market share from gold, substantially reduce the cost of remittance and potentially bank the unbanked.”


“When we first learned about Bitcoin back in 2012,” Ray continued, “we knew that Bitcoin was going to be a big deal. The question we kept asking ourselves, however, was: ‘How do we bring the benefits of Bitcoin to Indians while systematically protecting against the downside risks?’ In the absence of clarity, we were the first company in India to seek out and work closely with top techno-legal firm in the country, Nishith Desai and Associates. We were also the first Bitcoin company in India to implement a comprehensive compliance and banking like framework to address these challenges.”


Unocoin’s Vishwanath added, “We believe that we’re at the dawn of a new evolution where money itself is being reinvented. We love seeing so many of the smartest cryptographers, mathematicians, and computer scientists from all over the world working together to scale Bitcoin to the masses. Over the past year, we’ve also been innovating at light-speed: we’ve recently launched a merchant point-of-sale (POS) app, a mobile trading app, an auto-selling feature for remittance users, systematic investment planning (SIP) to mitigate against volatilty risk, integration with NETKI to simplifly Bitcoin addresses, created an over the counter (OTC) desk for large traders, integrated with for discounts on Amazon, launched an API for developers and more. Over the coming months and years, we’ll continue to build practical, useful features and tools on top of Bitcoin.”


Vishwanath concluded, “We have a clear vision here at Unocoin: let’s Make Money Simple.”

About Unocoin:

Started in 2013, Unocoin is a Bangalore based technology startup and is India’s first entrant into the bitcoin industry. The company operates India’s largest BTC-INR trading platform which enables Indians to buy, sell, store, use and accept bitcoin. Every month, Unocoin processes transactions worth more than INR 200M for its 100,000 customers. In just 3 years since inception, the company has drawn more than 30 top investors from 5 countries. Unocoin is responsible for industry leading innovations such as the Bitcoin Systematic Investment Plan (SIP), Bitcoin Point of Sale (POS) App and Bitcoin Over-The-Counter trading (OTC). For more information, please visit For investor, partnership and media related inquiries, please connect with Sunny Ray, Co-founder & President, at [email protected]

Launching OTC Platform for high volume traders

Posted at 5:49 pm on August 30, 2016 under Development

A bitcoin-OTC is an over-the-counter marketplace for buying or selling bitcoin for traders looking to trade in bulk with the minimum order of 25 BTC. Each order placed on the OTC platform may be tailored to match based on parameters such as ‘greater than’, ‘less than’, or ‘equal to’ a reference price from popular platforms such as: coindesk, localbitcoins, bitstamp, btcxindia, zebpay etc.

For example: A customer may place an order to buy 50 BTC when the price is less than coindesk’s price by 100 INR and Unocoin shall give a call to the customer when Unocoin is able to honor such a request to get the re-confirmation and move with the execution of the order.

“The OTC feature will come as a relief to traders who wished to trade bitcoin in larger quantities and weren’t able to do so previously due to: 1) buy/sell limit or 2) low liquidity in Indian bitcoin exchanges. This was a service that more serious Indian bitcoin traders were lacking, until now.” says Harish B V, Co-Founder and CFO at Unocoin.

Earlier this month, Unocoin launched its iOS mobile app for traders which is being received well and the android app is set to launch shortly. Unocoin’s Merchant PoS mobile app also hit the market in July. “In the coming few months, we are aiming to launch more exciting services which will contribute towards building a stronger bitcoin ecosystem in India” says Sathvik Vishwanath, Co-Founder and CEO, Unocoin, “we are on a singular mission here, take bitcoin to billions.”

Unocoin is India’s leading bitcoin company, has 90,000+ customers and is growing at a rate of 10-20% month over month. Backers include Digital Currency Group, Drapers’ Boost, BankToTheFuture and is ranked among the top 20 FinTech companies in India by FinTech City. Unocoin makes it easy to securely buy, sell, store, use and accept bitcoin in India.

Unocoin launches Mobile App on AppStore

Posted at 5:49 pm on August 8, 2016 under Development

“An easy to use mobile app for bitcoin enthusiasts and traders to buy,sell, send and receive Bitcoin on the go”

The Unocoin app supports TouchID and passcode feature for security.  The dashboard comes with an interactive 24 hour price graph timeline. There is also a dedicated one touch button to buy or sell bitcoin. The dashboard also hosts the user’s BTC and INR wallet. The BTC wallet is provided with an option to send and request bitcoin; the INR wallet comes with an add and withdraw INR functionality. The other features such as mobile/DTH recharge and SIP (systematic investment plan) are also included in the app. Please take note that the Android version will be released soon.

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“A lot of thought has gone into the design and user interface of this mobile application. We wanted to be sure that we are offering a seamless user experience for our customers. We built it from the ground up with the aim of making it the easiest bitcoin app in the world.” says Abhinand Kaseti, Co-Founder and CMO, Unocoin.


Unocoin is India’s leading bitcoin company. It has 85,000+ customers and is growing at a rate of 20% month over month.  Unocoin previously raised funds from Barry Silbert’s Digital Currency Group, Boost.VC and is ranked among the top 20 FinTech companies in India by FinTech City.

Make sure to check the following info of Developer before downloading the genuine app from Unocoin

Developer: Unocoin Technologies Pvt Ltd


Now buy electronic and physical gift cards through bitcoin

Posted at 8:52 am on June 21, 2016 under Development


You can now buy physical and electronic gift cards of more than 100+ premium brands through bitcoin at

Log onto and select the gift card that you wish to purchase and then checkout using Bitcoin as payment option.

Note: Register at Unocoin with a coupon code NAFA200 and avail INR 200 worth bitcoin free.

Load your MobiKwik wallet using bitcoin

Posted at 1:15 pm on May 12, 2016 under Development

As of this week, Unocoin users will be able to use bitcoin to load their wallet. MobiKwik, a semi closed wallet and a leading mobile wallet in India. Earlier this month, Unocoin partnered with the mobile wallet giant to let Unocoin users topup their MobiKwik wallets through bitcoin. “This partnership will help Unocoin users to use bitcoin across 50,000+ online merchants, 5000+ offline merchants and for utility bill payments through MobiKwik wallet” says Naveen C T, Head of Business Strategic Alliance at Unocoin. This service is now live on Unocoin.


Unocoin users willing to load their MobiKwik wallet using bitcoin will have to sign-in to their Unocoin account and click on the “More” => “Wallet Top-up” and choose MobiKwik wallet. Now, they would key in their mobile number associated with their MobiKwik wallet and the amount in INR that they wish to load on their MobiKwik wallet. The user will get an SMS confirming their MobiKwik wallet has loaded and an equivalent amount worth Bitcoin will be deducted from their Unocoin wallet.

NOTE: As of now, the minimum amount that can be loaded into the MobiKwik wallet using bitcoin is Rs.10/- and the maximum is Rs.2000/-