Hello True Believer!
Thank you for believing in us. Fuelled by your support and the passion shown by our incredibly dedicated team, we’ve managed to raise a Series C funding of $260 Million.
This round was led by Coinbase Ventures and Andreessen Horowitz (a16z), with our previous investors Sequoia, Paradigm, Ribbit and Tiger Global also investing in us.
This has now propelled us to the very top as India’s most valued Crypto company at $1.91 Billion!
The story so far…
It’s always a roller coaster ride for any startup like ours with innovation in their DNA, but our journey often took us to the deepest lows on the way to this incredible high. Cryptocurrency used to belong to the dark side — an alien, complex concept that so many thought of as something illegal and not to be played around with.
Yet there were always those who believed in the power of Crypto, even in the darkest of times. People who took the time and effort to invest in Crypto when it was only starting to make waves, and then thought to themselves, ‘There has to be an easier way to do this.’
This small group of people included our founders, Ashish Singhal, Sagar Vimal and Govind Soni, who took it upon themselves to create a solution. A way to bring Crypto from out of the darkness and into the light, so that even more Indians could see it as a symbol of hope rather than something to be suspicious about.
Today, more than 10,000,000 people have seen the light, thanks to CoinSwitch Kuber. Through the anxiety of a potential RBI ban in the beginning of 2021 and the constant self-doubt that has plagued everyone in the Crypto industry in India, the only thing that kept us going was YOU!
Growing from 1 Million users in November, 2020, to 5 million in May, 2021, to 10 million in September 2021. This acceptance is what moved us forward and helped us get to where we are today.
With this latest round of funding, we are hoping to make Crypto investment even easier, safer and faster for the people of India.
Here’s how we’re planning to spend the funds:
- Onboarding 50 Million Indians on CoinSwitch Kuber
- Launching Crypto products and services like lending and staking to enable users to benefit from this decentralized technology
- Hiring the best talent across Tech, Product, Growth and Support
- Addition of new asset classes to offer multiple investment options
- Introducing a product for institutional clients
- Launching a fund for young innovators in the Crypto ecosystem
- Becoming a one-stop-shop for all information and knowledge about Crypto
Thank you once again for your support. We hope to see bigger smiles on your face soon with loads of new features, better services and a product that will become your favourite (if it isn’t already)!