Bitcoin Forum

In the latest news, just saw this. http://themerkle.com/unocoin-raises-us1-5m-to-boost-bitcoin-penetration-in-india/

Great news for Bitcoin users in India to hear about Unocoin. Could someone from UnoCoin comment on this, and how the funds are planned to be used ?

More reports on the same news...

i. http://fortune.com/2016/09/29/unocoin-indian-bitcoin-startup/

ii. http://www.coindesk.com/indian-bitcoin-exchange-unocoin-raises-1-5-million/

How can we invest in unocoin fund raising? can we buy their shares like or how?Please let me know

Not sure where they will utilize this money since the fees they charge is the highest in the market.

I believe it was a private offering and not a public offering. So there probably is no way to invest, unless you are looking to invest a significant amount.

Even Forbes covered the news

http://www.forbes.com/sites/rogeraitken/2016/09/30/bitcoin-fintech-unocoin-sets-1-5m-vc-indian-investment-record


And Quartz

http://qz.com/797044/unocoin-indias-newest-bitcoin-superstars-raises-1-5-million-from-investors/

It will majorly be used for marketing, product and geographical expansion.

That is right. However please send your email id to me over IM and how much you are looking to invest. We will let you know when the next round opens up.

As per RoC data of U72200KA2015PTC080145, Unocoin Technologies Private Limited is allowed to raise INR 10000000 and u & Harish are the only two director. So, may I know, against what collateral investors are investing? Are they getting share of Unocoin Technologies Private Limited, which is not being reflected in RoC?

Oh - what you see is authorized capital and paid up capital. In the investment rounds, the shares get sold at a premium above face value and it wont be visible on RoC.

So, investors are getting share of Unocoin at a premium rate. But, should not their names be listed in RoC or that would be in next FY?

Coverage in Indian publications.  :)

http://profit.ndtv.com/news/start-ups/article-indian-bitcoin-company-raises-1-5-million-from-us-indian-investors-1468299
http://economictimes.indiatimes.com/small-biz/money/bengaluru-based-bitcoin-startup-unocoin-raises-rs-10-crore/articleshow/54596929.cms
http://www.business-standard.com/article/reuters/indian-bitcoin-company-raises-1-5-million-from-u-s-indian-investors-116093000038_1.html
http://www.livemint.com/Companies/iZWAxghGuEgUWm0IFZOwGL/Unocoin-Technologies-raises-15-million-funds.html
http://www.firstpost.com/business/bengaluru-based-bitcoin-startup-unocoin-raises-1-5-million-from-us-indian-investors-3027490.html

@dashingriddler , could you tell us more about the utilization of the funds in general or how the funds already raised are going to be used ?

What are the benefits to investor who invest in your company? And what is the minimum time period that this investor invests?

The public RoC only shows the directors and not the share holders.

The info we have provided to public domain is that those funds will be utilized for marketing, product development and team & geographical expansion.

It will be like shares of any other company. If the value of company goes up then the share value goes up as well. There is no minimum period and you cannot withdraw it either. You may however end up selling the shares subject to many terms and conditions that will be discussed at the time of investing. This is how the start up funding works :)

Thanks for the info. Could you also look at the fees being charged is the highest. Can you lower the fees next to zero or at least half of what is being charged now?

We as a policy are more inclined towards providing quality products and services than trying to charge lowest of the fee. However we do have plans of reducing the fee to some extent and the decision is yet to be taken.

Regards

Though Unocoin charges highest fee in the market, yet it has highest number  of bitcoin users in India. Fees doesn't matter especially in Service industry only thing which people expects from the company is Professional Service. And the recent Pre Series A round fund raise by Unocoin proves that they are very much dedicated towards providing quality service to their customer.

Wow dint knew that Unocoin has highest number of users in India. Congrats Unocoin.

Also it seems you have the website for buy/sell in India. Are you also planning for funding or in coming time?

Ya we have already received the seed funding but the management has decided not to disclose the amount until funding round is completely closed. We are coming with something very big in near future which would revolutionized the bitcoin market of India.

https://bnktothefuture.com/pitches/unocoin       


congrats!!!! ;D ;D ;D ;D ;D

hope to hear more news from unocoin regarding their plans about the bitcoin penetraion in india ,just curious to know what are the plans they have in hand to reach major audience ,hope they could promote and teach people about bitcoin and its advantages

Yes this funding which they have got is majorly will be utilized for below mentioned reasons. :-

Will majorly be used for marketing, product and geographical expansion.

Who all are involved behind the site and any plans to introduce the signature campaign from India, as there is no one currently in the market for Indians by Indians .....

there are quite a few companies running in india related to bitcoin ,they have to initiate the signature campaign if they want some exposure,the problem i think is we only have a few active users from india

There are quite a few active users in India. Atleast if one company also starts with it, it will help a lot like zebpay was offering i and had a good response it seems due to which their client also has increased over a period of time during those months.

But dont know why they stopped it inspite of getting the funds for their company.

'

Know about our team here https://www.unocoin.com/team
No plans of introducing the signature campaigns for time being from what I know.

Unocoin dev should introduce mobile app from there service.it is great news that unocoin is taking lead in bitcoin platform in india.as you know mostly everyone use mobile instead of desktop to do stuff so its better to introduce app .

We already have iOS app in App Store. Now we are working on the android app that likely will be launched in Nov :)

Does geographical expansion means Zebpay is going global? Well that would be graet. I suggest Zebpay also start supporting other cryptos also

Yes, we do have some international expansion plans.

We will consider your suggestion about alt coins. No promises yet :)