This London crypto startup just raised £1.4M to become the ‘Coinbase for NFTs’

CoinBurp is the brainchild of Peter Wood and Bipin Bhanderi. In 2014, the duo founded BitBroker, a brokerage website specialising in selling cryptocurrency in the UK via LocalBitcoins with just £1000. It became a leader in the industry with a turnover of £100M in 2018. Then the duo wanted to facilitate transactions on their platform. And so, in early 2018, CoinBurp was born.

Based out of London, CoinBurp is on a mission to tackle the common misconception that only the young or technically-minded can enter the cryptocurrency market. 

As a result, the founders have built a user-friendly trading platform built with seasoned cryptocurrency experts. 

Secured £1.4 million

Recently, the UK company secured $2 million (approx £1.4 million) funding in a private round, co-led by both Moonrock Capital and Alphabit Capital. 

Other investors including Outlier Ventures, Pluto Digital Assets, Blocksync Ventures, and Momentum6, also participated. 

Peter Wood, CEO, and Co-Founder of CoinBurp stated: “CoinBurp is a self-sustaining business as it is, we were in a very good position to make the plunge into DeFi and NFTs – doubling our existing development and marketing teams as well as support and operational in under a month. This comes with increased spend and the funding round has helped us ensure we move fast and we build to last. Our Alpha app is already out and by June, we’re going to be taking the NFT world for a serious ride.”

CoinBurp DeFi and NFT Wallet

A couple of months back, the company introduced CoinBurp DeFi and NFT Wallet, a new Non-Fungible Tokens (NFTs) wallet and marketplace where users can add funds, buy their favorite digital art, or collectibles, send them between wallets, and earn rewards.

At present, the platform supports cryptocurrencies including BTC, ETH, BCH, LTC, and XRP, and fiat currencies including GBP with FPS, EUR with SEPA.

CoinBurp allows users to store and send Ethereum-based tokens and import seed phrases from other popular DeFi wallets such as MetaMask and more.

NFT loyalty programme on cards

The UK company is also planning to introduce the world’s first generative NFT loyalty programme.  

In partnership with some of the leading names in the NFT space such as Sandbox.game, Avastars, and NFT Boxes, CoinBurp will create its own variable rarity generated NFTs, granting token holders exclusive benefits with the CoinBurp ecosystem.

Faster onboarding process, 0% commission

As per the company, the entire onboarding process is experienced in-house, takes no longer than 15 minutes. Further, users can deposit British Pounds instantly by UK bank transfer, thanks to UK Faster Payments Service (FPS).

The company also offers 0% commission on all cryptocurrency deposits, British Pound deposits of £100.00 or over, Euro deposits of €100.00 or over, and on all trades. However, fees will be incurred on withdrawal.

“We at Alphabit are delighted to show our continued support to the UK’s number one crypto portal. Peter and his team have been at the forefront of innovation within the cryptocurrency ecosystem and their continued innovation will assure them of further exponential growth in the years to come. The team and the project exemplify the qualities of an Alphabit portfolio project. Innovative, ahead of the curve and dedicated to disruption of the legacy antiquated systems which create so many barriers in today’s and yesterday’s financial ecosystem” – Liam Robertson, Alphabit CEO.



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