Coinmama

Company Overview

Snapshot

Founded in April 2013 by Nimrod Gruber, Coinmama operates with 11–50 employees. The company raised $2.4M across one funding round from iAngels. Coinmama was acquired by Wellfield Technologies in March 2022.

Business overview

Coinmama provides a purchasing solution for virtual currency, enabling users to buy digital assets online using credit cards, debit cards, or cash. Operating within the Fintech & Insurtech sector, the company focuses on the trading and investing segment, serving consumers and private investors globally with its web-based platform.

Strategic signal

In May 2023, Coinmama reportedly laid off 40% of its employees in Israel. This workforce optimization signals a significant operational restructuring following its acquisition, indicating a potential strategic pivot or a response to market conditions within the cryptocurrency sector.

Company Intelligence Q&A

What is Coinmama's primary business?

Coinmama offers a platform for users to purchase virtual currency online using various payment methods like credit cards, debit cards, or cash.

When was Coinmama founded?

Coinmama was founded in April 2013.

Who acquired Coinmama?

Coinmama was acquired by Wellfield Technologies in March 2022.

What was a significant operational change at Coinmama in 2023?

In May 2023, Coinmama reportedly laid off 40% of its employees in Israel.

How much capital did Coinmama raise before its acquisition?

Coinmama raised $2.4M in a funding round in August 2018 from iAngels.