CoinSwitch Kuber, an Indian cryptocurrency exchange, stated it raised $ 260 million with a valuation of up to $ one.9 billion.
CoinSwithc Kuber’s C-series investor checklist contains Andreessen Horowitz’s a16z fund, Coinbase Ventures, Paradigm, Ribbit Capital, Sequoia Capital India, and Tiger Global.
CoinSwitch Chief Business Officer Sharan Nair unveiled that this is a16z’s initially investment in the Indian industry, not just the cryptocurrency sector.
The exchange intends to use the money raised to increase its crew, entice 50 million new customers and launch new solutions this kind of as lending and staking.
CoinSwitch Kuber claims to be the greatest cryptocurrency exchange in India at the second, with ten million registered customers and seven million month to month trading customers.
With a valuation of $ one.9 billion, CoinSwitch also gets to be the 2nd cryptocurrency exchange in India to be regarded as a “tech unicorn”. Previously, in August, CoinDXC raised $ 90 million with a valuation of $ one.one billion.
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