Coinrule raises $2.2m to expand automated crypto trading platform for retail investors

Rick Steves

The firm plans to expand into traditional assets such as stocks as well as the new field of Decentralised Finance.

Coinrule has raised $2.2 million in a seed funding round to accelerate the expansion of its automated crypto trading platform for retail investors.

The fintech startup is being backed by a range of decorated tech founders and investors, including Fitbit founder James Park, Twitch founder Kevin Lin and a fund in which Naval Ravikant is an investor among others. Coinrule joined the YCombinator S21 cohort.

The funding round also welcomed Matteo Franceschetti’s Superfund (Founder of Eight Sleeps), Zilliqa Capital (a blockchain crypto fund), YC Alums Fund, Urban Innovation Fund (a Silicon Valley fund), NZVC, Startup Leadership Program (SLP Angels), CV VC, Kube VC, NV Ventures, Christophe Lassuyt, Robin Bade, Justin Hamilton, Stelios Gerogiannakis and Dan Scarfe.

Gabriele Musella, Oleg Giberstein, and Zdeněk Höfler founded Coinrule in 2018 to help cryptocurrency investors create and test automated trading strategies for their assets.

Meet FinanceFeeds at the IFX EXPO International in Cyprus

The mission: increase the accessibility of trading strategies and models, typically the preserve of investment banks and hedge funds, for anyone.

Coinrule was born with that mission is now providing retail users with algorithmic trading without having to learn a single line of code. The platform offers four plans: one is free, the others charge a tiered fee for Hobbyist, Trader, and Pro plans.

Gabriele Musella, co-founder of Coinrule, commented: “Coinrule is perfectly placed between two super trends, hyper financialization and the growth of automation in the world. We are bridging these trends to bring everyday cryptocurrency holders the opportunity to seize market opportunities. 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.”

Coinrule has grown rapidly over the last 12 months and now has over 13,000 users trading assets worth £100m every month. In any given month, users are creating over 100,000 strategies on the platform as they seek greater ownership of their assets.

“Crypto trading volumes account for over 10% of US equity trading and there are more than 60m, active crypto traders, worldwide. Moreover, our insights tell us there are some 360m people owning crypto assets worldwide with 82% who are keen to act quickly to market changes but feel constrained by the lack of means to do so. The opportunity is clear and present for Coinrule to help a range of people with crypto assets to generate value and protect their assets. Over the next 5 years, we plan to expand our user base to over 2million and automate $100b in crypto trading volume”, Ms. 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.”

Retail investors join Coinrule as an investment ecosystem that allows users to backtest strategies, copy trades from expert investors in the marketplace, find arbitrage opportunities and automatically find the best prices across exchanges.

Coinbase, Binance, Kraken, Bitstamp, and other global crypto exchanges have already partnered with Coinrule as it positions itself as a link between the old world of finance and the new, offering an automated SaaS trading solution across all assets and platforms.

Coinrule intends to help level the playing field between regular traders and hedge funds. The firm plans to expand into traditional assets such as stocks as well as the new field of Decentralised Finance, which could open endless opportunities like staking coins, smart routing, and trading synthetic assets.

Read this next

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

Digital Assets

Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.

Digital Assets

Prisma Finance suffers $10 million crypto exploit, attack ongoing

Liquid staking protocol Prisma Finance fell victim to a security exploit on March 28, resulting in nearly $10 million in Prisma mkUSD and wrapped stETH being stolen by hackers.

<