People haven’t shut up about Coin since the credit card replacement debuted in November, yet we’ve never seen the tech demoed in real life.
Today, all that changes.
Kanishk Parashar, Coin co-CEO and co-founder, has taken the stage at Disrupt NY to show off how the Coin actually works. He also confirmed to TechCrunch that our previous report on a $15.5 million Series A round led by Redpoint and Spark has, in fact, closed.
For those of you who haven’t been reading the internet in the past six months, Coin is its own credit card that stores other cards inside it, letting you switch between your corporate card and your visa to pay for things.
The card is also connected to your smartphone, ensuring that you don’t leave it behind or lose it. And perhaps more importantly, Coin is able to detect fraudulent activity the moment it occurs, as opposed to when the stolen information is used, oftentimes weeks or months later.
The company is now focused on manufacturing, with a ship date pegged for later this summer.