Cryptocurrency auto trading platform startup Coinrule has announced that its crowdfunding campaign held on Seedrs raised £531,423 (USD $725,000) from 658 investors. Coinrule had listed on Seedrs seeking to raise a target of £250,000, and found that its round was 209% oversubscribed when all was said and done.

The round was done a pre-valuation of £4 million for Coinrule.

Coinrule reports that it already has 13,000+ investors using its platform globally, and has seen 10x sales growth since launch in January 2020.

Coinrule is a meta trading platform that allows traders to set up rules-based crypto currency trading across multiple crypto exchanges. It claims to be a beginner-friendly and safe platform, to send automated trading instructions to various crypto exchanges including Binance, Coinbase Pro, and Kraken. The company says that it empowers retail traders to compete with professional algorithmic traders and hedge funds.

Auto and copy trading for retail traders – allowing novice traders to follow the strategies of more experienced traders, or to establish pre-defined buy and sell points using computerized algorithms, has become increasingly popular in 2020, but has also started to come under the scrutiny of regulators. We reported earlier this month that Australia’s ASIC is investigating the whole auto, social, and copy trading areas following some negative experiences of novice traders.