In a private seed funding, Coinigy, a U.S. based company, has reportedly raised $100,000 in order to develop its bitcoin and cryptocurrency trading tools.
Started by former hobbyist traders William Kehl and Rob Borden, the company lets its users to combine pricing data at 24 bitcoin exchanges using a central interface that comprises of features like real-time charting and technical analysis.
Kehl said that the company is designed to help traders to respond better to changing market conditions, thereby enabling them to trade more efficiently.
"It's definitely a benefit to traders in terms of increasing their profitability. We offer special order types that most exchanges don't offer like trailing stops and stop losses, so those things can definitely help preserve profit", he told CoinDesk.
Borden said that they will be looking to use the funds, in part, to help in the development of Android and iOS apps that will be out soon.
"We definitely have in our plans in the near future to branch out. We're vetting translators at the moment," he added.
