What Carret does

Carret, operating through Carretx Technologies Pvt. Ltd., is a Bengaluru-based crypto investment platform founded in 2022 by Neha Kumari (ex-Flipkart) and Shuja Hussain (ex-Yes Bank, ex-upGrad). The platform serves Indian retail crypto investors, high-net-worth individuals, and OTC/institutional traders through a vertically integrated suite that includes a core spot trading app, automated Crypto SIPs in BTC/ETH/SOL, the 24Carret high-yield crypto savings account, an OTC desk for large trades, a Private Client wealth management service, and a Projection Calculator.

The mobile-first product runs on iOS and Android apps with PAN-based KYC completed in under 30 seconds via a third-party KYC provider. Approximately 60 crypto assets are supported; INR deposits and withdrawals are routed through Mobikwik, and custody is handled via Fireblocks using multi-party computation and multi-signature authentication. The 24Carret savings product advertises up to 17% APY on USDT/USDC, 9% on ETH, and 8% on BTC, deploying user deposits across institutional borrowers (with collateral), protocol-level staking, and DeFi protocols with no lock-in and instant INR withdrawals.

Carret's revenue is generated from three primary streams: the yield spread between what 24Carret pays users and what the deployed assets earn, spreads on retail buy/sell transactions, and a 0.1% all-inclusive fee on OTC trades above $20,000 USDT equivalent. Distribution combines a self-serve, product-led motion for retail (mobile app, referral program, Telegram community, content marketing and earned media in Forbes India, Inc42, YourStory) and a high-touch, advisor-led motion for HNIs ($50K to $10M+ tickets) and OTC counterparties. Carret has disclosed only a pre-seed round, remains privately held, and is currently subject to an Enforcement Directorate FEMA investigation against its operating entity dated 17 June 2026.

Name

Carret

Legal name

Carretx Technologies Pvt. Ltd.

Website

https://carret.in

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

Carret is a Bengaluru-based crypto investment platform offering spot trading, automated SIPs, a high-yield savings account (24Carret), an OTC desk, and Private Client wealth management to Indian retail investors, HNIs, and institutional traders.

Ownership category

akta.pro rank

Product category

Crypto Investment Platform

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (523940)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Centralized Crypto Lending Platforms (CeFi) (FSADAFAA)

akta.pro secondary industries

Retail Crypto Brokerages (Simple Buy/Sell) (FSADAAAB), Crypto-Backed Business / SME Loans (Secured) (FSADAFAH)

Keywords

• Crypto investment platform
• Cryptocurrency trading app
• Crypto savings account
• Crypto SIP services
• OTC crypto trading

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Infrastructure, Personnel, Operations, Marketing or Sales

Revenue model

1. Yield Spread from 24Carret: Carret generates returns by deploying user-deposited crypto assets across institutional borrowers (who provide collateral), protocol-level staking, and DeFi protocols. The yield spread between what Carret pays users (up to 17% APY) and what is earned from these deployments constitutes the primary revenue stream.
2. Crypto Trading Platform Spread: Carret earns a spread on buy/sell transactions of crypto assets on its trading platform. Users deposit INR via Mobikwik payment partner and trade crypto assets with approximately 60 supported tokens. India applies a 30% tax on VDA gains and 1% TDS per trade.
3. OTC Trading Desk Fees: Carret OTC charges 0.1% fee on transaction value on large trades (minimum $20,000 USDT equivalent). Supports USDT-INR, BTC-INR, and ETH-INR pairs. 1% TDS is also applicable on sell orders.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels8 records

Core offering

Carret is a mobile-first crypto investment platform that enables users to buy, sell, and grow cryptocurrency portfolios through spot trading, automated Systematic Investment Plans (SIP) in BTC/ETH/SOL, a high-yield crypto savings account (24Carret) offering up to 17% APY, an OTC trading desk for large-volume trades, and bespoke private client wealth management services. The platform integrates Fireblocks custody for asset security, Mobikwik for INR deposits, and supports approximately 60 crypto assets with KYC onboarding in under 30 seconds.

Product overview

Carret operates as a unified crypto investment platform offering multiple integrated products: the core Carret trading platform for buying and selling crypto, 24Carret as the high-yield crypto savings account (up to 17% APY), Carret Private Client for bespoke wealth management services, and an OTC Desk for institutional and large-volume traders. The platform also offers Crypto SIP for automated investing and a Projection Calculator for financial planning. All products share the same mobile app infrastructure and user account system.

Differentiator

Problem solved

Functional benefit

Brands

• 24Carret: Crypto savings account platform offering up to 17% APY on crypto holdings.
• Carret OTC
• Carret Private Client

Products and services

• Carret Trading Platform Premier crypto trading platform enabling retail users to seamlessly buy, sell, and grow crypto portfolios with real-time cryptocurrency rates and access to approximately 60 crypto assets. Minimum INR deposit of Rs 200. INR deposits via Mobikwik payment partner. KYC mandatory.
• 24Carret Crypto Savings Account High-yield crypto savings account earning up to 17% APY on supported assets (BTC: 8%, ETH: 9%, USDT/USDC: 17%). Returns generated by diversifying deposited assets across institutional borrowers, protocol-level staking, and DeFi protocols. No lock-in period; instant withdrawals. Supports BTC, ETH, SOL, MATIC, AVAX, USDC, USDT, and UST.
• Carret OTC Trading Desk 24/7 over-the-counter trading platform for executing large crypto trades (minimum $20,000 USDT equivalent) with locked pricing, RFQ via portal, secure chat execution, and 0.1% all-inclusive fee. Supports USDT-INR, BTC-INR, and ETH-INR pairs with dedicated OTC trade partners.
• Carret Private Client Bespoke crypto wealth management service for serious investors (HNIs and institutions) with minimum investment of $50K. Provides personalized investment strategies, portfolio diversification, proactive risk management, continuous monitoring, exclusive insights, and access to fixed income investment products with yields up to 17% APY. Tiers: $50K–$500K, $500K–$1M, $1M–$5M, $5M–$10M, $10M+.
• Crypto SIP (Systematic Investment Plan) Automated Systematic Investment Plan enabling users to invest daily, weekly, or monthly in BTC, ETH, and SOL with rupee-cost averaging to reduce market volatility impact and build long-term wealth.

Quantifiable outcome

• Up to 17% APY on stablecoins (USDT, USDC)
• +9 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature7 records

Partnerships

Three partnerships are on record, tiered core.

• FireblockscoreTechnology or IntegrationFireblocks is one of the world's leading cryptocurrency asset custodians. Carret has partnered with Fireblocks to safeguard user crypto assets and deposits, leveraging Fireblocks' multi-party computation (MPC) infrastructure, multi-signature authentication, and institutional-grade security. Fireblocks is a critical infrastructure partner for Carret's custody and security architecture.
• MobikwikcoreTechnology or IntegrationMobikwik serves as Carret's primary payment partner for INR deposits and withdrawals on the trading platform. Users fund their Carret Fiat Wallet through Mobikwik, enabling the fiat on-ramp for the exchange.
• Best-in-class KYC ProvidercoreTechnology or IntegrationCarret has partnered with a best-in-class KYC provider to enable identity verification in under 30 seconds using PAN card and selfie, enabling rapid onboarding while maintaining compliance with Indian AML/KYC regulations.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• CoinDCX: India's largest crypto exchange by volume, offering spot trading, staking, and a mobile-first retail app. Directly comparable to Carret on the trading and SIP retail motion; competing for the same Indian retail crypto investor.
• WazirX: Indian crypto exchange with mobile trading and INR on/off-ramp. Closely comparable retail broker and competing OTC/large-trade flow to Carret's OTC desk.
• Coinswitch Kuber: Indian crypto aggregator/exchange with strong retail brand. Comparable on mobile-first retail trading and INR on-ramp, competing directly with Carret's core trading platform.
• Mudrex: India-based crypto investment platform offering automated SIPs and managed investment products. The closest comparable to Carret's SIP and 'invest-and-earn' value proposition targeting Indian retail investors.
• ZebPay: Long-standing Indian crypto exchange offering trading and INR banking rails. Comparable as a retail-focused Indian crypto brokerage competing for the same mobile-first user.
• Bitbns: Indian crypto exchange offering spot trading and INR deposits. Overlapping retail brokerage and Indian market focus with Carret.
• Giottus: Indian crypto exchange with INR on/off-ramp and a multi-token trading platform. Directly comparable in product scope and Indian retail target segment.
• Unocoin: Early Indian crypto exchange with retail INR trading and SIP-style products. Comparable to Carret on the SIP/automated-investment angle and Indian retail focus.

Broad incumbents

• Binance: Global crypto exchange offering spot, derivatives, staking, and yield products. Comparable on broad product surface (trading, savings/yield, OTC); competes for Indian retail via offshore access despite Carret's geographic restrictions.
• KuCoin: Global crypto exchange with broad token listings, lending, and staking. Overlaps with Carret's yield and OTC services from an incumbent, multi-region position.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/0xcarret

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Carret