[Funding alert] Crypto investment startup flippy raises $1.15M, launches mobile app

Crypto investment startup, flippy, on Tuesday, announced the launch of its mobile app and said it has raised $1.15 million in a seed funding round.

The funding round was led by Redstart Labs, with participation from other investors such as Entrepreneur First, Justin Caldbeck, Alex Lin, and Anirudh Rastogi.

The firm is also backed by 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, according to a statement.

Founders, Srivar Harlalka and Srinidhi Moodalagiri, hope to use the capital to scale operations and expand the team. The startup also intends to build a user acquisition strategy, with the goal of producing content that both imparts knowledge and is accessible to all investors.

The Flippy app will be soon available in both the Apple App Store and Google Play Store. The app allows users to explore the investment portfolios of prominent crypto influencers as well as provides access to various crypto information.

Srinidhi, 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, and 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,”he adds.

The firm has collaborated with crypto exchanges such as CoinDCX, Zebpay,WazirX, Bitbns, Krypto, and Unocoin, to allow customers to link their trading accounts and finalise their investments directly from the flippy site.

Srivar, Co-founder of flippy, said, "The recent trend in India depicts that more than 60 percent of states in India are Cryptotech adopters, especially Gen Z and millennials with 66 percent of crypto investors below 35 years of age.