Coinrule announced a $2.2 million seed funding round

By Joy Dumasia

Coinrule, which provides individual and retail cryptocurrency investors with an automated crypto trading platform for their assets, announced a $2.2m seed funding round. A range of decorated tech founders and investors participated in the round, including Fitbit founder James Park, Twitch founder Kevin Lin, and a fund in which Naval Ravikant is an investor.

Founded in 2018 by Gabriele Musella, Oleg Giberstein and Zdeněk Höfler, Coinrule enables cryptocurrency investors to create and test automated trading strategies for their assets to benefit from market opportunities protect them against adverse events. It was created with the mission to increase the accessibility of trading strategies and models, typically the preserve of investment banks and hedge funds, for anyone. In effect, Coinrule provides algorithmic trading without having to learn a single line of code.

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

Coinrule’s vision is to become 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. Coinrule has already integrated its offering with global crypto exchanges, including Coinbase, Binance, Kraken, Bitstamp, etc.

Gabriele Musella, Co-Founder of Coinrule, said: “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 programme 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.”

IBS Intelligence reported that UK-based automated trading platform Coinrule announced that its round on Seedrs has secured over 200% of its target, raising around €570K, with a valuation of around €5 million.