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Author Topic: UnoCoin raises US$1.5m To Boost Bitcoin Penetration In India  (Read 3172 times)
philiveyjr (OP)
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September 30, 2016, 04:23:23 PM
 #1

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 ?

RocketSingh
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September 30, 2016, 07:41:45 PM
 #2

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/

zahra4577
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September 30, 2016, 10:53:45 PM
 #3

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

bitcoinisbest
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October 01, 2016, 07:13:50 AM
 #4

Not sure where they will utilize this money since the fees they charge is the highest in the market.
philiveyjr (OP)
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October 01, 2016, 06:40:34 PM
 #5

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

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.

dashingriddler
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October 02, 2016, 03:15:21 PM
 #6

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/

CENTRA

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dashingriddler
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October 02, 2016, 04:58:14 PM
 #7

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 ?

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

CENTRA

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dashingriddler
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October 02, 2016, 05:01:14 PM
 #8

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

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.

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.

CENTRA

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October 02, 2016, 05:38:33 PM
 #9

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

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.

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?

Cleaning BitcoinTalk community since 2014.
dashingriddler
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October 02, 2016, 11:12:46 PM
 #10

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

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.

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.

CENTRA

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Rotten Egg
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October 02, 2016, 11:50:27 PM
 #11

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

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.

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?

Cleaning BitcoinTalk community since 2014.
polynesia
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October 03, 2016, 12:09:09 AM
 #12

Coverage in Indian publications.  Smiley

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
philiveyjr (OP)
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October 03, 2016, 02:58:05 AM
 #13

@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 ?

bitcoinisbest
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October 03, 2016, 04:07:25 AM
 #14

What are the benefits to investor who invest in your company? And what is the minimum time period that this investor invests?
dashingriddler
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October 03, 2016, 11:51:56 AM
 #15

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

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.

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?

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

CENTRA

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dashingriddler
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October 03, 2016, 11:53:30 AM
 #16

@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 ?

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

CENTRA

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dashingriddler
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October 03, 2016, 11:55:50 AM
 #17

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

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 Smiley

CENTRA

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bitcoinisbest
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October 03, 2016, 06:08:07 PM
 #18

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

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 Smiley

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?
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October 04, 2016, 03:56:52 AM
 #19

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

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 Smiley

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

CENTRA

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techsuvidha
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October 08, 2016, 10:12:17 PM
 #20

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

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.
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