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CoinSwitch Kuber raises $15 million in Series A 13 January 2021
Source: CoinSwitch Kuber CoinSwitch Kuber, India’s fastest growing cryptocurrency investment platform announced that it has closed $15 million (Rs. 109 Cr.) in its Series A funding. The round is led by leading global fintech and crypto investor Ribbit Capital, and San-Francisco based crypto focused investment firm, Paradigm. The deal brings together two leading global investors in support of the CoinSwitch Kuber team and what they have managed to achieve in the space in a very short time. The company will use the funds to enhance product, security, compliance and tech capabilities, and build a formidable brand with a view to be the leading cryptocurrency investment platform for Indian users. The round also saw participati
[Funding alert] CoinSwitch Kuber raises $15M from Ribbit Capital, Kunal Shah, others
Bengaluru-headquartered CoinSwitch Kuber said it will use the funding to enhance its product, security, compliance and tech capabilities, and brand building.
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CoinSwitch Kuber, a cryptocurrency investment platform, has raised $15 million in Series A funding round led by
Ribbit Capital and San-Francisco based crypto focussed investment firm Paradigm. The round also saw participation from existing investors
Sequoia Capital India and
CRED founder Kunal Shah.
The Bengaluru-headquartered startup said it will use the funding to enhance its product, security, compliance and tech capabilities, and brand building.
Commenting on the latest funding, Ashish Singhal, Co-founder & CEO, CoinSwitch Kuber, said,
CoinSwitch Kuber, a cryptocurrency investment platform, on Wednesday said it has raised USD 15 million (Rs 109 crore) in funding, led by Ribbit Capital and San-Francisco based crypto focused investment firm Paradigm. The series A round also saw participation from existing investor, Sequoia Capital India and CRED founder Kunal Shah, a statement said. The company will use the funds to enhance product, security, compliance and tech capabilities, and build a brand with a view to be the leading cryptocurrency investment platform for Indian users, it added. Cryptocurrencies (like Bitcoin and Ethereum) are digital or virtual currencies in which encryption techniques are used to regulate the generation of their units and verify the transfer of funds, operating independently of a central bank.
The company will use the funds to enhance product, security, compliance and tech capabilities, and build a brand with a view to be the leading cryptocurrency investment platform for Indian users, a statement said.