Japan’s Coinboard, app for managing multiple crypto portfolios, secures $940K

Japan’s Coinboard, app for managing multiple crypto portfolios, secures $940K

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See the original story in Japanese.

Tokyo-based Logica, the Japanese startup behind the Coinboard multiple crypto portfolio management tool, announced on Wednesday that it has raised 100 million yen (about $942K US) in funding. Participating investors are Ceres, Cyberagent Ventures, Adways, and Monex Ventures. Details such as the payment date and investment ratios were not disclosed.

Coinboard allows users to manage their crypto portfolios by linking their registered crypto exchange accounts. As of this writing, the platform supports 10 exchanges in Japan and the rest of the world: Bitbank, BitFlyer, Coincheck, Quoinex, Zaif, Binance, Bittrex, Kraken, Liqui, and Poloniex.

The Coinboard platform helps users aggregate their crypto balances, their transaction history, their total asset amount and the like from multiple different exchanges. We’ve seen similar services like Blockfolio and Cryptofolio but these require users to manually input all of their transaction history by themselves, which makes it inconvenient especially for those who trade often.

Logica CEO Masaru Matsunaga

The Coinboard platform has automated this input process using an API (application program interface). Given that other similar crypto platforms like Coin View having also recently supporting the same function, automated data import is becoming essential for a crypto portfolio management platform.

Logica was founded in November of 2015 by Masaru Matsunaga who previously worked for Japanese news curation app Gunosy as an engineer. With the support of angel investors he originally worked on image analysis products. After several trial and errors, including a hotel comparison site, he arrived at Coinboard last summer. At first glance it may seem inconsistent among all the services he had developed to date, but in fact all these were concerned with information aggregation, and are manifestations of Matsunaga’s interest in improving the convenience of amounts of information.

Using the funds raised this time, the company plans to strengthen its engineering capabilities for developing a mobile app as well as integrating the platform with more crypto exchanges including DEX (decentralized exchange).

Translated by Amanda Imasaka
Edited by Masaru Ikeda