Bengaluru: Crypto Asset Platform coinswitch kuber Andreessen Horowitz (a16z), Coinbase Ventures and existing investors Paradigm, Ribbit Capital, Sequoia Capital India and Tiger Global have raised $260 million in a Series C funding round. With this investment, coinswitch Kuber becomes a unicorn worth $1.9 billion.
CoinSwitch Kuber CoinSwitch will deploy funds to connect 50 million Indians on the Kuber platform and introduce new crypto products.
It also plans to hire the best talent including leaders and experts from engineering, product, data, development etc. to define the crypto industry in India.
The company plans to devise ways to simplify the investment journey of Indians, and in the process offer multiple investment avenues for them through different products and asset classes.
There is increasing interest in institutions to enter the crypto market and Coinswitch Kuber intends to take advantage of this opportunity.
It will facilitate institutional investment by providing them with a unique product that meets their end-to-end requirements.
India has a huge talent pool that can build world class products/protocols in crypto.
CoinSwitch Kuber will set up an ecosystem fund to identify and enable emerging talent in the country.
The firm will use these funds to create a knowledge-driven crypto ecosystem in India and provide investors with holistic crypto education, both current and future, thus, helping them navigate the market and the many aspects of this new asset class. will help to understand.
Ashish Singhal, Co-Founder and CEO, CoinSwitch Kuber said, “CoinSwitch Kuber is on a mission to create wealth for Indians by making crypto more accessible. I believe that making crypto investing simpler for Indian youth makes us stand out. We wanted to remove all the complexities in crypto trading, educate consumers and give them a simple one-click buying and selling experience in crypto. Coinbase Ventures also invested in Coinswitch Kuber’s business The model is a testament to their trust and the tremendous potential of India’s crypto space.
“We are incredibly excited about the crypto market opportunity in India, and with its breakout growth, CoinSwitch has emerged as the leading retail platform in the country,” said David George, General Partner, Andreessen Horowitz.
“Ashish and team have demonstrated strong execution capabilities and ambition to provide an investment platform for the masses in India.”
Started in 2017 by Ashish Singhal, Govind Soni and Vimal Sagar, CoinSwitch was launched as a global aggregator of crypto exchanges. The company started its India operations in June 2020.
Past investors of CoinSwitch Kuber include Paradigm, Ribbit Capital, Sequoia Capital India and Tiger Global as well as notable angel investors such as Kunal Shah.
CoinSwitch Kuber has over 10 million users in India and a monthly active user base of over seven million.
CoinSwitch Kuber CoinSwitch will deploy funds to connect 50 million Indians on the Kuber platform and introduce new crypto products.
It also plans to hire the best talent including leaders and experts from engineering, product, data, development etc. to define the crypto industry in India.
The company plans to devise ways to simplify the investment journey of Indians, and in the process offer multiple investment avenues for them through different products and asset classes.
There is increasing interest in institutions to enter the crypto market and Coinswitch Kuber intends to take advantage of this opportunity.
It will facilitate institutional investment by providing them with a unique product that meets their end-to-end requirements.
India has a huge talent pool that can build world class products/protocols in crypto.
CoinSwitch Kuber will set up an ecosystem fund to identify and enable emerging talent in the country.
The firm will use these funds to create a knowledge-driven crypto ecosystem in India and provide investors with holistic crypto education, both current and future, thus, helping them navigate the market and the many aspects of this new asset class. will help to understand.
Ashish Singhal, Co-Founder and CEO, CoinSwitch Kuber said, “CoinSwitch Kuber is on a mission to create wealth for Indians by making crypto more accessible. I believe that making crypto investing simpler for Indian youth makes us stand out. We wanted to remove all the complexities in crypto trading, educate consumers and give them a simple one-click buying and selling experience in crypto. Coinbase Ventures also invested in Coinswitch Kuber’s business The model is a testament to their trust and the tremendous potential of India’s crypto space.
“We are incredibly excited about the crypto market opportunity in India, and with its breakout growth, CoinSwitch has emerged as the leading retail platform in the country,” said David George, General Partner, Andreessen Horowitz.
“Ashish and team have demonstrated strong execution capabilities and ambition to provide an investment platform for the masses in India.”
Started in 2017 by Ashish Singhal, Govind Soni and Vimal Sagar, CoinSwitch was launched as a global aggregator of crypto exchanges. The company started its India operations in June 2020.
Past investors of CoinSwitch Kuber include Paradigm, Ribbit Capital, Sequoia Capital India and Tiger Global as well as notable angel investors such as Kunal Shah.
CoinSwitch Kuber has over 10 million users in India and a monthly active user base of over seven million.
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