Panaesha Capital Turns 3 Years Old: A Letter from Our CEO
I can not believe that it’s been 3 years since we started our journey as a fintech company. I must admit, it feels like just 3 days ago that we have started our journey with just 25 employees. But, when I look back, I must say that this has been a journey that all of us at Panaesha Capital feel blessed to be a part of.
Today, we have 40+ satellite offices in different parts of India. We are also fortunate to have won the trust of 50,000+ customers. When we had started off as a fintech company, we have not imagined that we will become the first fintech company not only in India but around the world that has introduced the B2B business model in the crypto industry. Today, we have 250+ franchises and hundreds of freelancers all around India.
But, I must also admit that this journey was not as easy as it seems. Like a roller coaster ride, we faced a lot of challenges like regulations but have always been privileged with the trust and confidence of millions of people. In my mind, the number of clients and the trading volume is a true measure of customers. Our total trading volume usually in a month is around 27,72,52,72,963.99 INR, showing the love & trust that our clients have in us.
As I said earlier our journey this far is just like a roller-coaster ride and before I start talking about it, I would like to share a quote of Bill Gates which created a buzz in the ’90s.
“We need banking, but we don’t need banks anymore”
Interestingly, twenty years after that famous statement was made, we’ve still got banks thriving and growing. So, did he got something wrong? No, he was not!
What he probably meant was that we need to make payments, but we don’t need banks to make payments, or we need loans, but we don’t need banks to get loans, or we need to invest, but we don’t need banks to invest with. What he actually wanted to say was that it was the time to introduce technology in the banking industry to streamline the banking processes and how the banks were operated.
Banking systems needed to be upgraded because a country’s growth depends on it. The same is with money and investments. When compared with the time in 90, I can say that we are completely living in a different world. Nowadays, everything is digital so why cannot be the money and investment options?
At the time, when we started our journey as a fintech company, we knew that blockchain, as well as, cryptocurrencies were a big disruptive force and we set out to build a company around using its disruptive nature to bring revolution in the conventional financial industry.
And to do so, we have introduced PCEX (Panaesha Capital Exchange) in January 2019 as a centralized exchange that worked on the B2C Model and expanded our client networks in countries like Uthonia, Norway, United Kingdom, United States, United Arab Emirates, etc. Worked on the crypto market for a year, we have analyzed that there was a very limited scope of investments as well as business opportunities in the crypto market. So, we have decided to come with an exchange that caters to both B2B and B2C clients. As the world’s first cryptocurrency exchange that works on both B2B and B2C models, we have created 170+ trading members and 30000+ clients all around the world.
However, to reach 130 billion of Indians, we needed a platform through which we can connect people who belives in bringing changes who believe in the future and this is why we have introduced PCEX Member as the first crypto broker in India in June 2020. And I can proudly say that, just in a tenure of 3 months, we have expanded our business in almost all states and union territories in India. Through our B2B model, we became successful in creating a network of 250+ franchises, 100+ freelancers, and 50,000+ clients in India.
I am overwhelmed with what we have been able to achieve in these three years. And this could not be possible without you. I am really thankful to all our partners, business associates, franchisees, freelancers, clients, investors, and well-wishes-who have helped directly or indirectly in this incredible journey.
In the last three years, Panaesha Capital was committed to establishing a wide & strong crypto network. Somehow we have succeeded in this direction, but still, there is a long way to go. Today, I invite all of you to help and support us to make crypto-investment as a new revolution in the financial market.
At Panaesha Capital, our vision is to increase the freedom of money by bringing cryptocurrency to the mainstream. We believe that we can only achieve this by accelerating the adoption of cryptocurrencies as an investment option all around the world. And I believe that together we can achieve this!
Thank you!
Mr. Sandeep Phogat
Founder/CEO Panaesha Capital
