Zebpay eyes $2 million funding for mobile Bitcoin app biz

After an initial round of funding of Rs 75 lakh, Ahmedabad-based start-up Zebpay is eyeing second round of funding worth $ 2 million (Rs 12.5 crore roughly) for its Bitcoin app business.

Arguably the country's first Bitcoin app, Zebpay aims at becoming the global Paytm powered by bitcoin, according to Sandeep Goenka, serial entrepreneur, Active Angel Investor and Cofounder of Zebpay.

With features like magic moments, sending bitcoin to friends using their mobile numbers, allowing buy through the app and offering discounts on e-vouchers, Zebpay is rapidly catching attention of Indian internet users. While the start-up was incorporated in August 2014, Zebpay recently launched its android based app for transacting bitcoins in February 2015. "We will be soon launching the app for iPhone users. We are awaiting a nod from Apple for the same," Goenka.

The app has already seen over 5000 users in over 65 countries including the US and Indonesia, of which 2000 are from India.

What's more, Zebpay is also anticipating further traction in bitcoin based mobile transactions post the conference 'Future of Money- The Bitcoin Story' that it held in alliance with TiE, FLO & GCCI (YW)& EMF. The meet saw over 400 participants including top industry leaders of Ahmedabad, FICCI, Senior chamber members, and B-school students.

"As India's first National Bitcoin Conference, the event holds major significance as it discussed the way ahead for the future of how we transact. The panel discussion delved into relevancy and intricacies of Bitcoin currency in the country," said Saurabh Agrawal, Cofounder, Zebpay.

Incorporated in 2014, Zebpay won CoinAgenda's Best New Company award in October 2014.