Flippy, a new age social crypto discovery platform dedicated to discovery, investment, entertainment, and diversification in digital assets, announced the launch of its mobile app in India.
The company has raised USD 1.15 million in its seed round led by Redstart Labs, a wholly owned subsidiary of InfoEdge, and other key investors including Entrepreneur First, Justin Caldbeck, Alex Lin, and Anirudh Rastogi.
The company has also been backed by a marquee investor 7 Percent Ventures, an international fund that has invested in unicorns like Oculus VR (later sold to Facebook), SourceDNA (later bought by Apple) and Magic Pony technologies (subsequently sold to Twitter).
Flippy’s app is being used by the users on their waitlist, and will be available on the App Store and Google Play Store soon. The app helps one discover the world of crypto, follow trusted connections, learn from pros and make responsible investments. flippy allows users to invest through relatable thematic baskets, making diversification possible with a single click.
Users can access a range of informative content through this platform and view investment portfolios of successful crypto-space influencers.
Flippy has partnered with leading crypto exchanges such as Bitbns, Krypto and Unocoin, and is in talks with CoinDCX, Zebpay and WazirX to allow users to link their trading accounts and complete their investments from the Flippy platform itself, a statement from the company said.
The funds will be used to focus on building a team of junior and senior-level engineering talent to scale Flippy’s operations. The second objective is to form a user acquisition strategy and create content that will impart knowledge and make crypto accessible to all investors, it added.
Speaking on the launch, Srinidhi Moodalagiri, co-founder of Flippy, said: “The crypto space is a relatively new area with new technicalities and volatility leading to investor apprehension to enter the space. With flippy, we provide access to relatable thematic baskets, such as metaverse, NFTs, gaming allowing new and existing investors to discover, discuss, and diversify investments across themes without having to research each token individually. Flippy is the only platform enabling Peer to Peer knowledge sharing through interesting, interactive and engaging content formats, making the investor journey hassle-free, efficient and straightforward.”
Srivar Harlaka, co-founder, Flippy, added: “The recent trend in India depicts that more than 60% of states in India are Cryptotech adopters, especially Gen Z and millennials with 66% of crypto investors below 35 years of age. Although men have ruled the space, women’s participation in crypto trading has increased by 1000% in the last few years. Seeing this massive demand in the crypto space, the company aims at reaching 1 million users in the next 18 months. The funding and backing by credible investors will enable Flippy to be the pioneer in the social crypto space to make crypto understandable and accessible to new investors and equip them with a fun and simplified platform to invest in this space.”