Coinrule Financial Model
Crypto/Web3 Startup Financials (Free Excel Download)
No-code automated crypto trading platform for retail investors, enabling rule-based algorithmic strategies without programming skills.
professionals from Deloitte
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About this model
Coinrule is a no-code automated crypto-trading platform for retail investors, allowing users to set rule-based strategies without programming. It uses a freemium, tiered subscription model rather than taking a disclosed share of customer trading volume, so the product is fundamentally an ARR business.
The platform served users in more than 130 countries, led by the US, UK, Brazil, Spain, and Germany. Its deck identifies MKB Fintechlab as the latest round’s lead investor, but does not disclose the round size. The global retail audience makes exchange connections and customer support operationally relevant alongside conversion.
Build a monthly freemium funnel from acquired users to activated free accounts, paid conversion, and tier mix. Multiply subscribers by tier price to derive recurring revenue, then model churn, upgrades, support, exchange-integration costs, and acquisition spend. Keep trading volume as an engagement KPI, not a revenue driver, unless a separately evidenced transaction-fee product is introduced.
A turnkey financial model
Live formulas, no hardcoded values
Outputs are driven by live formulas, so the workbook updates from its assumptions instead of relying on hardcoded results.
All assumptions in one tab
Inputs are clearly marked in the Assumptions tab and separated from calculations, making it clear what to change and what to leave intact.
Statements always balancing
For integrated-statement models, the balance sheet, cash flow, and supporting schedules tie through properly.
Distinct schedules for clarity
Debt, working capital, taxes, and cash flow can get messy quickly. We group calculations in clear schedules, not across disconnected tabs.
No hidden macros or external links
There are no unexplained external workbook links or macros to undermine auditability or portability.
Changes flow through the model
Update a key driver and see the impact carry through the forecast, financing, and return outputs. We never use hardcoded numbers in formulas.
About Coinrule
coinrule.io
How to build a detailed financial model for Coinrule
A complete walkthrough of the business, drivers, and assumptions behind the downloadable Coinrule model - distilled from its pitch deck and publicly available information.
Product & value proposition
- Beginner-friendly platform to send automated trading instructions to crypto exchanges. No coding required.
- "If this then that" rule logic - users build rules (conditions + actions) that execute automatically 24/7.
- Integrations: Binance, Coinbase Pro, OKEx, Bitstamp, Bitpanda, Kraken, and more.
- Web + mobile app. Rule marketplace allows users to share/like strategies (169 likes on a sample rule shown).
- Template library (7–unlimited strategies depending on tier).
Market
- 360M millennials own crypto currencies worldwide.
- 82% of crypto holders want to quickly react to market changes.
- Narrative framing: institutional markets are already bot-driven (The Economist, FT cited).
- No explicit TAM/SAM/SOM dollar figures provided.
Revenue model
Freemium SaaS with four tiers:
| Tier | Monthly price | Annual price | Key limits |
|---|---|---|---|
| Starter | Free | Free | 2 Live Rules, 1 Exchange, up to $5k/mo trade vol |
| Hobbyist | $29.99/mo | $359/yr | 7 Live Rules, 2 Exchanges, up to $50k/mo trade vol |
| Trader | $59.99/mo | $719/yr | 15 Live Rules, 3 Exchanges, up to $500k/mo trade vol |
| Pro | $449.99/mo | $5,399/yr | 50 Live Rules, Unlimited Exchanges, up to $3m/mo trade vol |
- Annual billing offered at up to 20% discount vs monthly.
- Revenue is pure subscription; no transaction fee or revenue-share model disclosed.
- Upsell lever: number of live rules, connected exchanges, trade volume cap, and premium features (ultra-fast socket, 1:1 training).
Traction & metrics
- Users from 130+ countries; top markets: USA, UK, Brazil, Spain, Germany.
- Sample user performance shown: generated $4,230 since Dec 12, 2017; started with $2,360; gain +46.37%.
- KPI slide headline: "Investors Make 67% Profits Despite Historical Market Collapse."
- Coinrule User Profits Breakdown (three-month cohort, self-reported Coinrule data):
- 40k–50k profit: 23%
- 20k–30k profit: 23%
- 0–10k profit: 21%
- 0 to -10k loss: 6%
- -10k to -20k loss: 28%
- (67% of users profitable; 34% in loss over the period)
- No MRR, ARR, total user count, churn rate, or growth rate figures disclosed in deck.
Competition / moat
- Moat framing: no-code simplicity vs institutional algo trading tools; template marketplace creates network effects.
- Affiliations / credibility markers:
- MKB Fintechlab (lead investor)
- FCA Sandbox Alumni
- Enterprise Ethereum Alliance (co-organiser)
- MassChallenge Alumni
- RBS Fintech Program
- Alan Turing Institute (research project)
- Kraken & Bitpanda (premium partners)
- Web Summit featured showcase
- London & Partners Growth Program
- Named competitors: not explicitly shown. Implied competitive set = institutional algo platforms, manual trading on exchanges.
Team & funding ask / use of funds
Founders:
- Gabriele Musella, CEO & Co-founder - ex UBS, Vodafone, Nokia, Lloyds; MIT; Lead Mentor at Google; Advisor at Harvard.
- Oleg Giberstein, COO & Co-founder - ex Citi (banking/risk); crypto & token economics specialist; MPhil Oxford.
- Zdenek Hofler, CTO & Co-founder - Node.js engineer; GDPR expertise; cyber security entrepreneur; ex O2/Telefonica.
Advisors:
- Robin Bade (ex CEO Europe, Mirum/WPP)
- Oliver Snoddy (ex Global Head of Brand, Twitter)
- Mary Alcantara (Head of Startups, MKB Bank)
- John Austin (ex Chief Strategy Officer, IG Index)
- Andrea Baronchelli (Researcher, UCL / Blockchain Centre City University)
Recommended financial model
- Archetype + why: SaaS subscription ARR model with freemium funnel. Revenue is purely recurring subscription across four tiers; no transaction or volume-based revenue shown. Freemium free tier creates a conversion funnel - the model must capture free→paid conversion rates and tier mix.
- Forecast horizon & granularity: Monthly for years 1–2; annual summary for years 3–5. Crypto-market sensitivity makes quarterly granularity beyond Y2 unreliable without scenario analysis.
- Key drivers & assumptions:
| Driver | Value / Tag |
|---|---|
| Starting registered users | Estimate 5,000–20,000 given 130+ country reach but no count disclosed; use 10,000 as base |
| Free-tier % of user base | ~60–70% typical for freemium SaaS |
| Free→Hobbyist conversion rate | 3–6% monthly; crypto engagement is high-intent |
| Hobbyist→Trader upgrade rate | 10–15% of paid; upgrade driven by trade volume limits |
| Trader→Pro upgrade rate | 3–5%; high price point, whale users only |
| Monthly pricing (Hobbyist / Trader / Pro) | $29.99 / $59.99 / $449.99 |
| Annual plan take rate | 40–50% on paid tiers; 20% discount incentive |
| Monthly user growth rate | 8–15% MoM early stage; slowing to 3–5% by Y3 |
| Gross margin | 70–80%; cloud infra + exchange API costs; no COGS disclosed |
| Monthly churn (paid) | 4–7%; crypto platforms show elevated churn in bear markets |
| CAC | $30–$80 blended; content/SEO + community heavy |
| LTV (Hobbyist) | $29.99 × (1/churn); at 5% churn ≈ $600 |
| S&M % of revenue | 40–60% early stage |
| R&D % of revenue | 25–35% |
| G&A % of revenue | 15–20% |
- Scenarios (Base / Bull / Bear - which variables flex):
- Bear: Crypto market downturn - churn spikes to 10–12%, new user growth halves, upgrade rates fall. Revenue flat or declining Y2.
- Base: Stable crypto market, 10% MoM user growth, 5% paid churn, moderate tier mix.
- Bull: Bull crypto market drives viral growth (20%+ MoM), lower churn (2–3%), faster Pro tier upgrades; ARR compounds rapidly.
- Primary flex variables: user growth rate, paid churn, tier upgrade rates, and crypto market sentiment proxy.
- Required sheets / outputs:
- Assumptions - all drivers in one place, scenario toggles
- User Funnel - registered → free → paid by tier (monthly cohort)
- Revenue - MRR/ARR by tier, annual vs monthly billing split
- P&L - gross margin, S&M, R&D, G&A, EBITDA
- Runway / Cash - monthly cash burn and runway given disclosed/assumed raise
- KPI Summary - MRR, ARR, paid users, ARPU, LTV/CAC, churn, net revenue retention
- Dashboard - charts: MRR growth, tier mix, user funnel conversion, LTV/CAC, scenario comparison
Frequently asked
Is the Coinrule financial model free?+
Yes. The Coinrule model is a free Excel (.xlsx) download with live formulas. Sign up with your email and the workbook is yours to keep, review, and edit.
What's included in the model?+
A 5-year monthly forecast with P&L, cash flow and runway, valuation (exit multiple plus a DCF cross-check), MOIC/IRR returns, and unit economics, with live formulas throughout.
How was this model built?+
It was built from Coinrule's pitch deck and publicly available information, then structured to investment-banking standards as a fully editable Excel model.
Can I change the assumptions?+
Yes. You can change assumptions and the live formulas will recalculate in the downloadable Excel model.
Have more financial modelling questions? Contact us
Created by ex-finance professionals
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