Bitcoins are increasingly being used for online transactions. In India, too, there is a surge of interest for this virtual currency which knows no borders or central bank.
In 2014, Sandeep Goenka, Saurabh Agrawal and Mahin Gupta came together to start ZebPay, an app-based bitcoin platform for users in India. Customers can not only buy and sell bitcoins on the platform, they can also use bitcoins to buy e-commerce site vouchers and recharge mobile airtime. The firm secured around $1 million in Series A funding from Arjun Handa, chairman and managing director, Claris Life Sciences; Amit Jindal, managing director, Jindal Worldwide and other unnamed investors in January.
"This is the internet of money. China does Rs 10,000-20,000 crore worth of bitcoin trade a day. There's no reason why we (India) should be different," says Goenka.
On the sidelines of the Techcircle Payments Forum 2016 in Mumbai, Goenka explains how bitcoins can be used for online transactions, why ZebPay entered this space, and its fund-raising plans.
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