Pi42 Company Profile

Background

Overview

Pi42 is India's first Crypto-INR Perpetual Futures Exchange, established in February 2023. The platform enables users to trade cryptocurrency futures directly in Indian Rupees (INR), eliminating the need for stablecoin conversions and associated tax implications. Co-founded by industry veterans Nischal Shetty and Avinash Shekhar, Pi42 aims to empower Indian investors with a seamless and compliant crypto trading experience.

Mission and Vision

Pi42's mission is to redefine financial freedom by providing innovative and compliant crypto trading solutions tailored for the Indian market. The vision is to create a crypto-empowered ecosystem where investors can trade futures contracts in INR, ensuring tax efficiency and regulatory compliance.

Industry Significance

In a landscape where Indian crypto investors faced challenges due to punitive taxation and limited access to derivative trading, Pi42 addresses these issues by offering a platform that supports crypto-INR perpetual futures trading. This approach not only simplifies the trading process but also aligns with regulatory standards, fostering a more secure and transparent environment for investors.

Key Strategic Focus

Core Objectives

Tax Efficiency: By offering crypto-INR perpetual futures, Pi42 enables traders to avoid the 1% TDS and 30% flat tax on gains associated with spot trading.

Regulatory Compliance: The platform is registered with the Financial Intelligence Unit (FIU), ensuring adherence to India's financial regulations and enhancing user trust.

User Empowerment: Pi42 focuses on educating investors about crypto derivatives, providing resources and tools to navigate the trading landscape effectively.

Areas of Specialization

Crypto Futures Trading: Specializing in perpetual futures contracts, Pi42 allows users to trade both long and short positions on cryptocurrencies without contract expirations.

INR Integration: The platform's unique integration with INR simplifies the trading process for Indian users, eliminating the need for stablecoin conversions.

Key Technologies Utilized

Advanced Matching Engine: Ensures rapid trade execution, with trades processed in milliseconds.

Risk Management Tools: Features like stop-loss and take-profit orders help users manage risk effectively.

Primary Markets Targeted

Indian Crypto Investors: Focusing on the vast base of crypto enthusiasts in India, Pi42 aims to provide a compliant and efficient trading platform.

Financials and Funding

Funding History

As of July 2025, Pi42 has not publicly disclosed specific funding details or amounts raised. The company remains privately held and has not announced any recent funding rounds.

Utilization of Capital

While specific utilization details are not publicly available, Pi42's strategic initiatives suggest that capital is likely allocated towards:

Platform Development: Enhancing user experience and integrating advanced trading features.

Regulatory Compliance: Ensuring adherence to financial regulations and obtaining necessary registrations.

Market Expansion: Educating and onboarding new users, particularly in cities like Lucknow and Pune.

Pipeline Development

Key Pipeline Candidates

Pi42 is actively expanding its offerings to include a broader range of crypto-INR perpetual futures contracts, aiming to provide users with diverse trading options.

Anticipated Milestones

iOS App Launch: Following the successful launch of the Android app, Pi42 plans to release an iOS version to cater to a wider audience.

Educational Initiatives: The company is committed to educating over 150,000 citizens in Pune about crypto derivatives trading by the end of FY25.

Technological Platform and Innovation

Proprietary Technologies

Matching Engine: A state-of-the-art system that executes trades in milliseconds, ensuring minimal latency and optimal trading conditions.

Significant Scientific Methods

Risk Management Algorithms: Advanced algorithms that facilitate the implementation of stop-loss and take-profit orders, aiding in effective risk management.

Leadership Team

Avinash Shekhar – Co-Founder and CEO

Professional Background: Former CEO of ZebPay, a leading Indian cryptocurrency exchange.

Contributions to Pi42: Oversees finance, regulatory compliance, and operations, ensuring the platform's strategic direction and adherence to legal standards.

Nischal Shetty – Co-Founder

Professional Background: Co-founder of WazirX, a prominent cryptocurrency exchange in India.

Contributions to Pi42: Focuses on growth strategy, leveraging his extensive experience to expand Pi42's market presence.

Satish Mishra – Chief Technology Officer

Professional Background: Former Vice President of Engineering at CoinDCX, a leading Indian cryptocurrency exchange.

Contributions to Pi42: Leads the technology team, driving platform development and ensuring robust technical infrastructure.

Market and Competitor Profile

Market Insights and Dynamics

The Indian cryptocurrency market has experienced significant growth, with approximately 30 to 35 million users. However, the introduction of stringent taxation policies, including a 30% tax on crypto gains and a 1% TDS on transactions exceeding INR 10,000, has led to a decline in trading volumes and a shift towards derivative trading platforms.

Competitor Analysis

WazirX: A leading Indian cryptocurrency exchange offering a wide range of cryptocurrencies and trading pairs.

CoinDCX: Provides a platform for trading various cryptocurrencies and has a significant user base in India.

ZebPay: One of the oldest cryptocurrency exchanges in India, offering trading services for multiple cryptocurrencies.

Strategic Collaborations and Partnerships

Pi42 has established partnerships with banking institutions to facilitate seamless INR deposits and withdrawals, enhancing user convenience and trust.

Operational Insights

Pi42 differentiates itself by offering crypto-INR perpetual futures trading, addressing tax efficiency and regulatory compliance, which are significant concerns for Indian investors.

Strategic Opportunities and Future Directions

Strategic Roadmap

Platform Expansion: Introducing additional crypto-INR perpetual futures contracts to cater to a broader range of trading preferences.

Educational Outreach: Continuing to educate and onboard new users, particularly in emerging crypto hubs like Lucknow and Pune.

Technological Enhancements: Developing advanced trading tools and features to enhance user experience and engagement.

Future Business Directions

Pi42 aims to become the leading crypto-INR perpetual futures exchange in India, focusing on user education, regulatory compliance, and technological innovation to drive growth and adoption.