Coinone
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Coinone - overview
Location
Seoul, -, South Korea
Primary Industry
Financial Services
About
Coinone is a South Korean cryptocurrency exchange platform that enables users to trade digital assets securely and efficiently. It offers services tailored for both individual and institutional investors within the cryptocurrency market. Coinone operates as a cryptocurrency exchange, facilitating the trading of digital currencies. Founded by Myunghun Cha, the company is headquartered in Seoul, South Korea.
In January 2022, Com2us acquired a minority stake in Coinone for KRW 54 billion from GOWID Inc. The company has successfully closed a total of 5 deals, with the most recent investment round being a Secondary Stock Purchase that raised KRW 54,000 mn, equating to the total amount raised. Coinone functions primarily as a cryptocurrency exchange, providing a comprehensive platform for trading various digital assets including Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). It includes fiat-to-crypto transactions, allowing deposits and withdrawals in South Korean Won (KRW), thus ensuring easy access for users.
The platform also engages users through trading competitions and bonuses to enhance participation and foster a secure trading environment for retail and institutional investors across South Korea and Southeast Asia. In the most recent year, 2024, Coinone reported a revenue of KRW 32,395,915. 8, while its EBITDA for the same year stood at KRW -2,900,243. 9.
Revenue is primarily generated through trading fees based on a tiered model, incentivizing higher transaction volumes, alongside promotional activities that enhance user engagement. Coinone's future growth strategy focuses on expanding its product offerings and geographical reach. The company aims to develop new features and products aimed at enhancing user experience with a targeted launch by the end of 2024. The funds from the most recent investment round will be allocated to support these initiatives, facilitating expansion into new markets within Southeast Asia.
The strategic investment from Com2us positions Coinone to enhance its market presence and operational capabilities to capture a larger share of the growing cryptocurrency market.
Current Investors
GOWID Inc., The One Group, Kakao Ventures
Primary Industry
Financial Services
Sub Industries
e-Financial
Website
www.coinone.co.kr
Verticals
Blockchain
Company Stage
Add-on
Total Amount Raised
Subscriber access only
Coinone - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Secondary Stock Purchase | Completed | Coinone | - | ||||||||
| Secondary Stock Purchase | Completed | Coinone | - |
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