Australian FinTech company profile #152 – Coinstash
1. Company Name: Coinstash
2. Website: www.coinstash.com
3. Key Staff & Titles: Ting Wang (CEO), Mena Theodorou (CTO), Simon Ho (COO), Andreas Andersen (CMO)
4. Location(s): Brisbane, Australia
5. In one sentence, what does your fintech do?: Coinstash is the trusted gateway for Australians to access the world of crypto.
6. How / why did you start your fintech company?: In 2017 during the crypto bull run, we realised that many crypto exchanges in Australia did not offer the best customer experience, they also lacked trust and support from customers. We started working on our own exchange in 2018 and launched it in 2019. We aim to be the go-to platform for Australians to do anything crypto related, from trading crypto to earning on their crypto.
7. What is the best thing your company has achieved or learnt along the way (this can include awards, capital raising etc)?: We raised $2.8 million from more than 1,400 investors back in 2021. Since then, we have signed up 20,000 customers and launched our Coinstash Earn product, allowing Australians to earn a rate of return on their crypto.
8. What’s some advice you’d give to an aspiring start-up?: Get your hands dirty, do the hard work and have a hustle mentality.
9. What’s next for your company? And are you looking to expand overseas or stay focussed on Australia?: We are looking at expanding to Singapore, as well as issuing our own token.
10. What other fintechs or companies do you admire?: We admire Australian companies that are able to make an impact on the global stage, such as Immutable X, Canva and Go1.
11. What’s the most interesting or funniest moment that’s happened in your company’s lifetime?: Thanks to the 2017 crypto bull run, we became a start-up that remained profitable from day 1. We were lucky enough to not have any financial pressures during the first 12 months which is critical to the success of a start-up.