COINFLIP LAUNCHES $1 MILLION INITIATIVE TO SUPPORT EMERGING WEB 3.0 STARTUPS

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Jul 27, 2022, 09:00 ET

Applications to the Program, Called 'CoinFlip Ventures,' are Officially Open, Offering Expert Coaching, Funding and Networking Resources from the CoinFlip Executive Team

CHICAGO, July 27, 2022 /PRNewswire/ -- CoinFlip, a leading fintech company powered by cryptocurrency, announces today the launch of CoinFlip Ventures, a new initiative that will support Web 3.0 based start-up companies. CoinFlip will fund a total of $1 million to various entrepreneurial teams, with a focus on university students and underrepresented or minority-owned businesses. Entrepreneurs will receive financial assistance and direct access to CoinFlip's executive leadership team who will provide industry insight, leadership coaching, business advice, and influential networking opportunities.

"We understand firsthand the diligence, passion, and dedication it takes to build a tech company from the ground up," said Founder and Chairman of CoinFlip, Daniel Polotsky. "We've learned so much through trial and error since our founding and are honored to pass along our knowledge and resources to startups we believe in."

The program is looking to support applicants involved in decentralized finance, NFT tools/marketplaces or tokenization of traditional assets. Funding opportunities are available to qualified applicants, up to $250,000 per company. Those interested in applying to CoinFlip Ventures must be in the pre-seed or early stages of maturation, meaning the brand has developed a prototype, service model or business plan, but is not yet profitable.

"CoinFlip remains committed to innovation and is dedicated to the growth of this evolving industry," said Kris Dayrit, Director and Co-Founder of CoinFlip. "Diversity is a fundamental principle at our company. We are passionate about supporting underrepresented entrepreneurs and university students, and excited to launch this initiative to help further drive adoption of decentralized internet, from some of the most brilliant minds out there."

CoinFlip was founded in 2015 and was completely bootstrapped from the start. Since then, CoinFlip saw revenue of nearly $100 million in 2021, doubling from 2020. The company was also ranked No. 60 on the Inc. 5000, the highest-ranking crypto company included on the list. Since its inception, CoinFlip has expanded to over 4,000 ATMs across 49 states, taking its place on the frontline of a financial revolution where cryptocurrency and blockchain technology can empower investors across the country. In June, the company expanded to Canada, marking its first foray into international growth. With its headquarters located in Chicago, CoinFlip continues to expand its footprint across the United States and internationally.

CoinFlip Ventures is now accepting submissions and those interested in applying can submit at info.coinflip.tech/ventures.

For more information about CoinFlip, please visit www.CoinFlip.tech and join the conversation on Facebook, Twitter, Instagram and LinkedIn.

About CoinFlip:
CoinFlip is a leading fintech company powered by cryptocurrency. The company operates the world's largest network of cryptocurrency ATMs by transaction volume with nearly 4,000 machines across 49 states supporting the buying and selling of major cryptocurrencies with cash. In 2020, CoinFlip launched Trade Desk, an over-the-counter trading service that provides investors a personal account manager and competitive coin pricing. CoinFlip became an international company in 2022 via expansion into Canada. The company has amongst the lowest fees in the industry and provides 24/7 award-winning customer support.

CoinFlip was founded in 2015 by Daniel Polotsky, Kris Dayrit, Alan Gurevich, and Benjamin Weiss. Headquartered in Chicago, CoinFlip placed 60th on the 2021 Inc. 5000 list as the top-ranked cryptocurrency company, was named the 2021 and 2022 #1 fastest-growing company in Chicago by Crain's, and was awarded the 2021 and 2022 Stevie ® Awards for Customer Service. For more information about CoinFlip, please visit www.CoinFlip.tech.

SOURCE CoinFlip