# Coindrum

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/coindrum

- Industry: Hardware
- Headquarters: Dublin, Ireland
- Website: www.coindrum.com
- Total disclosed funding: $0.9M
- Latest round: Seed (Dec 21, 2023)
- Investors on record: 1

## About

Coindrum Limited is a company that provides innovative coin counting machines, facilitating the efficient management of excess coins for businesses and consumers alike.Founded in 2012, Coindrum Limited is based in Dublin, Ireland, and specializes in automated coin handling solutions. The company has successfully completed a total of 2 deals, with its most recent funding round occurring on December 21, 2023, where it raised EUR 800,000 in Seed funding led by Business Venture Partners. CEO Lukas Decker is at the helm, driving the company's strategic initiatives.Coindrum specializes in innovative coin counting machines designed to streamline the process of managing excess coins for both businesses and consumers. Their core product enables users to deposit large quantities of coins without the need for manual counting, sorting, or bagging, effectively simplifying the coin exchange process. This service is particularly beneficial for retail establishments, vending machine operators, and consumers who frequently accumulate coins and seek a convenient way to convert them into usable currency. Coindrum's coin counting machines are deployed in various markets across Europe and North America, catering to a diverse clientele that includes retail chains, banking institutions, and individual consumers. The company's offerings are aimed at enhancing operational efficiency and improving cash flow management for their users.Coindrum generates revenue through a combination of partnerships and direct transactions with clients, primarily involving the deployment of their coin counting machines in retail and commercial settings. The typical transaction structure includes agreements with retailers and businesses that utilize Coindrum’s machines, allowing them to offer coin exchange services to their customers. Revenue is derived from service fees associated with each transaction made through the machines, along with potential ongoing maintenance and support agreements. In the most recent year, Coindrum reported revenue of EUR 0 in 2022.In December 2023, Coindrum Limited raised EUR 800,000 in Seed funding led by Business Venture Partners to support its growth strategy. The company plans to enhance its product lineup with new models of coin counting machines, targeting a launch by mid-2024. Additionally, Coindrum aims to expand its market presence into Asia and South America by late 2024, leveraging the recent funding to finance these initiatives.

## Funding rounds

- Seed, Dec 21, 2023, $0.9M — Business Venture Partners

## Investors

- Business Venture Partners (https://capitalatlas.ai/funds/business-venture-partners) — Seed