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Crypto Investment Platform BitSave secures Pre-Series A funding from Leo Capital
Bengaluru, India, 26th November 2024
BitSave, a breakthrough crypto investment platform, has successfully closed its Pre-Series A funding round of an undisclosed amount raised from Leo Capital. The platform, aiming to make crypto an investor-friendly asset class, simplifies long-term crypto investments by offering passive investment products, including a flagship crypto index product licensed by Bloomberg to track the Bloomberg Galaxy Crypto Index (BGCI).
Founded in 2022 by former core team members of Koinex, Zakhil Suresh, Sajal Sharma, Asif Kattakath and Vishnu Karthikeyan, BitSave addresses critical pain points in the crypto investment landscape by simplifying asset selection, ensuring transparency, providing personalised support, and prioritising safety.
With the proliferation of over 100+ tokens on various crypto platforms, passive investors often struggle to make informed decisions. BitSave tackles this by offering only top crypto assets selected by Bloomberg as part of its Crypto Index (BGCI). Moreover, it adheres to KYC and TDS guidelines issued by Indian authorities and prioritises disciplined investing—avoiding speculative or leveraged products—through provision of SIPs in its investment products. This strategic focus has enabled BitSave to grow its active client base to over 500 investors, managing assets exceeding USD 450,000 (INR 4 Crores), and positioning itself as a trusted player in the space.
BitSave also effectively addresses concerns around asset safety by storing client assets in insured institutional custody and making it visible on the blockchain through Proof of Reserves and Liabilities.
Zakhil Suresh, Founder & CEO of BitSave, commented, “It is important to empower people to make better-informed decisions with their crypto investments to ensure that the asset class achieves the recognition it deserves. At BitSave, we have eliminated the scope for short-term speculation, offering a platform that encourages disciplined, long-term investing in the safest and simplest way possible. Considering the long-term nature of our business model, which keeps our clients’ interests at its centre, it was crucial to find a partner who shares our vision of building a regulated, global crypto platform without compromising on the core philosophy. And thus, we feel fortunate to have Leo Capital on board as a partner in this journey. By focusing on investor safety and personalised support, our goal is to onboard more first-time investors, expanding crypto adoption in India and beyond.”
Ravi Srivastava, Partner at Leo Capital, added, “BitSave team has been building in and contributing to the crypto space for nearly a decade now. They bring a perfect balance of forward-thinking and risk-mitigation necessary - be it with a thoughtful indexation approach, or strict compliance and secure custody of assets. Their vision to bridge the gap between traditional investing and digital assets with the simplicity of mutual-fund-like structures, while upholding global standards in transparency and compliance, strongly positions them for not only riding the secular trend but also defining the way investors perceive & adopt this emerging asset class globally.”
The company plans to allocate the raised capital primarily towards securing necessary licences, enhancing product offerings, and expanding brand awareness. In addition, it also aims to expand its operational geography from India to other Asian countries in 2025, in alignment with its vision of becoming a globally trusted crypto investment platform of choice.
About BitSave
BitSave is a crypto investment platform focused on long-term passive investment solutions for working professionals and HNIs. Founded in 2022, the platform prioritises transparency, safety, and simplicity, offering a seamless investment experience. BitSave’s products include a flagship crypto index product tracking the Bloomberg Galaxy Crypto Index, with a provision of monthly SIP.
About Leo Capital
Leo Capital is a Singapore-based early-stage venture fund founded by serial entrepreneurs with global experience. The firm’s portfolio spans 60 early-stage companies supported by a cross-border team across three continents. Leo Capital backs founding teams powering a software-enabled world, supporting them in their journey from great start-up to great company. Leo’s "India Advantage" offers founders support in talent acquisition, go-to-market strategies, and access to a robust network of global co-investors.
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