Gurugram (Haryana) [India], July 10 : Skill based opinion trading platform Probo on Thursday said that it was cooperating with law enforcement agencies after the Directorate of Enforcement conducted searches at its offices in Gurugram.
a spokesperson for Probo Media Technologies Pvt. Ltd. said, "In light of recent developments, we would like to assure all stakeholders and the public that Probo is cooperating with law enforcement authorities in the ongoing inquiries. As pioneers of a nascent-yet-transformative technology in India's digital landscape, we remain confident that our commitment to compliance and innovation will help us emerge stronger through this process. We have complete faith in India's robust regulatory framework and its vision for responsible tech innovation."
"Probo is an innovative skill-based platform. It provides India's leading information marketplace that democratises the trading. With over 4.2 crore users, Probo has ensured better access to wealth creation that traditional financial markets have not been able to provide to the general public," the spokesperson added.
"We reiterate that Probo adheres to all applicable laws and regulations and maintains the highest standards of compliance. User safety and trust remain our top priorities. We sincerely appreciate the continued support of our community and will provide updates as appropriate, the spokesperson further added.
Earlier in a statement the ED said that it had conducted search operations on July 7 and July 8 at four premises in Gurugram and Jind, Haryana related to the company and its promotors under the provisions of PMLA, 2002. The ED claimed that during the searches, various documents and digital data were found and seized.
According to the company, Probo is an opinion trading platform that empowers individuals to express their data-backed insights on real-world events and earn rewards. Probo is backed by investors - Peak XV Partners (formerly Sequoia Capital), Elevation Capital and Fundamentum Partnership.