CoinSwitch Kuber, a cryptocurrency investment platform, announced it has raised a Series B funding round of $25 Million from Tiger Global Management.
“This latest valuation also makes us the largest crypto platform in India, putting us in India’s top 5 finance apps,” the company said.
“CoinSwitch is one of the fastest-growing crypto exchanges in India. Starting with a user base of one lakh people at inception, we have grown alongside the crypto market over time,” it added.
Earlier this year, the company announced that it has raised $15 Million in Series A funding from prominent investors in the crypto field, namely Ribbit Capital, Sequoia Capital and Paradigm.
“The new round of funding comes as an endorsement of our vision of becoming the most preferred crypto investment destination for retail investors in the country. We are now valued at over $500 million, making us the largest funded cryptocurrency platform in India,” the statement said.
“As they build India’s leading cryptocurrency platform, Coinswitch is well positioned to capture the tremendous growing interest in crypto among retail investors,” said Scott Shleifer, Partner, Tiger Global.
Founded in 2017 by Ashish Singhal, Govind Soni and Vimal Sagar Tiwari, the company launched its India-exclusive crypto platform, CoinSwitch Kuber, in June 2020 to simplify crypto investments for Indian retail investors.
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