Sandeep Nailwal, the creator of Polygon, along with iSeed Fund, KubeVC, and other angel investors have invested Rs 12 Cr in the crypto tax platform KoinX.
By merging their portfolio and transactions on an unified platform with a consolidated dashboard, KoinX enables cryptocurrency investors to automate their taxation. To simplify the assessment of tax implications for cryptocurrency users, the platform has already partnered with crypto exchanges including CoinDCX, Binance, WazirX, Vauld, BitBNS, CoinSwitch, and Kuber.
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By Q2 of current fiscal year, the startup plans to reach over five lakh cryptocurrency investors by expanding its operations.
Founded by Punit Agarwal in 2022, KoinX lets cryptocurrency investors globally automate their crypto taxations by integrating their portfolio and transactions on a single unified platform with centralized dashboards.
“The core value of KoinX lies in the simplicity and ease of use for our consumers. We wanted to build something that has ease of access and integration so that crypto investors can solve their tax-related issues in a jiffy. Built on secure protocols, we ensure that our users’ identities and other information are protected through advanced encryption techniques. We are a proud Made in India product by very talented engineers and industry experts who have carefully understood user pain points and taken meticulous care to alleviate those pain points in a typical user journey,” said Punit Agarwal, founder, KoinX.