Zebpay, a mobile bitcoin company run by Zeb IT Service Pvt. Ltd, said it has raised about $1 million in series-A funding led by growth equity investor Arjun Handa, vice president of Claris Life Sciences. The other investors include Amit Jindal, managing director of Jindal Worldwide.
Zebpay is a mobile bitcoin wallet that allows its users to buy and sell bitcoins, store bitcoins and use them to buy vouchers and recharge phones.
“Governments worldwide have acknowledged the fact that blockchain technology has the potential to disrupt current financial systems and are exploring ways to benefit from it. Even Reserve Bank of India, in its recent report on financial stability, has appreciated the strengths of the underlying blockchain technology. Contrary to its previous note of caution, it has praised the intrinsic potential of the technology to help check counterfeiting and bring a major transformation in financial infrastructure, collateral identification and the payments system,” said Saurabh Agrawal, co-founder of Zebpay in a statement.