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Coinrule raises $2.2 million to enhance its automated crypto trading platform

Coinrule raises $2.2 million to enhance its automated crypto trading platform
Jordan
Major
Updated: 13 Oct, 2021
2 mins read

Coinrule has received $2.2 million in a seed financing round to accelerate the development of its automated crypto trading platform for retail investors. The funds will be used to expedite the expansion of the platform.

As well as conventional assets such as equities, the company intends to extend its operations into the emerging area of Decentralised Finance (DeFi), reports Finance Feeds.

In addition to Fitbit creator James Park and Twitch founder Kevin Lin, the fintech company has received support from a number of well-known technology entrepreneurs and investors, including Naval Ravikant, who is an investor in the fund.

Co-founder of Coinrule, Gabriele Musella, commented on Coinrule joining the YCombinator S21 cohort:

“This funding and joining the YCombinator program has put us in a good place to deliver our mission for financial inclusion by giving people the tools to compete in a new world of trading.”

The Coinrule ethos

Coinrule was established in 2018 by Gabriele Musella, Oleg Giberstein, and Zdeněk Höfler to assist cryptocurrency investors in developing and testing automated trading strategies for their assets. 

Everyone may benefit from trading techniques and models that are usually only available to investment banks and hedge funds. 

Nowadays, Coinrule is able to provide algorithmic trading to retail customers without requiring them to write a single line of code. The site provides four plans, one of which is completely free; the other three are charged on a tiered basis, with the Hobbyist, Trader, and Pro plans being the most expensive. 

Musella added:

“The world of finance is changing. Up to 90% of global markets are managed by bots and run by investment banks and hedge funds, leaving the average investor with few tools to compete. Learning to trade manually is difficult and time-consuming, and the relative knowledge of professional and hobbyist investors is very different, and so is their access to opportunities.”

It’s worth noting that, cryptocurrency exchanges including CoinbaseBinanceKraken, Bitstamp, and other global crypto exchanges have already partnered with Coinrule, which is positioning itself as a link between the old and new worlds of finance by providing an automated SaaS trading solution across all assets and platforms.

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Jordan Major
Author

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.

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