We are incredibly thrilled to announce that CoinSwitch has raised a Series B funding round of $25 Million from Tiger Global Management. We have grown 350% in the past quarter and now have over 4.5 million users trusting the CoinSwitch Kuber app on Android and iOS. This latest valuation also makes us the largest crypto platform in India, putting us in India’s top 5 finance apps.
We write this article as a thank you note to our users without whom we would never have achieved all our industry-defining milestones.
A Little About Our Start
It was amid the crypto rise that we launched our Indian Crypto platform, CoinSwitch Kuber. 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.
Earlier this year, we announced that we raised $15 Million in our 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.
We recently launched the Trade Kar Befikar campaign as a part of our partnership with the Disney+Hotstar T20 series. A team of 20 has now expanded to 120+ best and brightest minds.
Our team is hands-on, making our mission – establishing crypto as an asset class on par with the other traditional assets a reality very soon.
In terms of product development, we have been adding features that would ease your crypto journey. We have introduced market orders and limit orders for Bitcoin, which will help our users mitigate their risk.
We are growing rapidly since our launch, and not everything has been perfect. Due to the lack of regulations in the market and the bank’s cooperation, we face challenges to provide an ideal platform. But, we are tirelessly working towards fixing things from our end.
- To make withdrawals quicker, we are partnering with many payment gateways.
- To strengthen security, we have been trying to break our system from all corners so that nobody else can.
- Our customer support team has significantly expanded to address your issues almost instantly.
Our product and tech team are currently working on some very cool features like:
- Early warning systems that help investors make better decisions based on multiple data points
- Limit order feature across the platform
- Watchlist feature to track your favourite currencies
- Integration of KuberVerse into the app to equip you with complete knowledge on crypto and investments.
And a lot more…..
In the coming months, we are trying to achieve a few milestones such as:
- Investing heavily in technology to boost product performance and security.
- Increasing our efforts on brand building and establishing cryptocurrency as an emerging asset class.
- Hiring top talent across technology, operations, marketing, product and compliance teams to fuel growth.
- With an existing user base of 4.5 Million, we aim to onboard over 10 Million users by the year-end.
A Heartfelt Thank You
It has been an incredible journey so far, but this is just the beginning. We are thankful to you for placing your trust in us and allowing us to serve you as your crypto exchange.
No matter how much we may grow in future, you will always be the first and most cherished users of CoinSwitch Kuber. Our gratitude extends beyond words for standing by us through the way.
Please keep supporting us and help us serve you better.
Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.
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