Unocoin operates a BTC-INR trading platform based in Bangalore that enables Indians to buy, sell, store, use and accept bitcoin. The platform serves roughly 100,000 customers and processes more than INR 200M in transactions every month. The company employs over 30 people. Co‑founders are Sunny Ray (President), Sathvik Vishwanath (CEO), Harish B V (COO) and Abhinand Kaseti (CMO). In September 2016 Unocoin raised $1.5M in a Pre‑Series A round and intends to use the funds to expand operations. Its core offerings include bitcoin wallet and trading services for Indian users. Unocoin operates a Bitcoin platform focused on trading, merchant payment processing, and wallet storage, targeting Indian users and businesses. The company is based in Tumkur, just outside Bangalore, and was co-founded by Sathvik Viswanath, who previously ran mining operations before shifting to this model. Unocoin requires customers to submit PAN (Permanent Account Number) cards and charges a 3% fee on buys and sells. The founders position Bitcoin as a lower-cost remittance and payment alternative in India, which has a large unbanked population and receives about $70 billion annually in remittances. Regulatory signals have been mixed: the Reserve Bank of India initially warned against buying or selling Bitcoin, though a deputy governor later said there were no plans to regulate the currency.

Total raised

$2M

Funding rounds

2

Latest round

Series A

Latest activity

Sep 2016