In Brief
- CoinSwitch Kuber worth might be reaching to $2 Billion valuation
- An unofficial source claiming Coinbase as a new investor of CoinSwitch Kuber
- Expected to complete a deal by end of this month
Coinswitch kuber, the Indian crypto exchange is in the last talk to raise a new round of funding value at $2 billion, According to an unconfirmed report. If this talk ends positively, then Coinswitch would be the second Indian-based crypto startup to enter into the Unicorn club, after CoinDCX.
Coinswitch kuber is a four-year-old startup, backed by famous investors like Tigar Global, Sequoia Capital India, and Ribbit Capital. It is known that the company had gain valuations of over $500 million in its series B round in April this year.
According to some buzz, this is not clear who is leading this talk. But, some unofficial sources claimed that coinswitch kuber is in touch with Andreessen Horowitz and Coinbase and the deal may be complete by the end of this month. The deal’s worth could be over $100 million.
In recent few months company’s user count increased surprisingly. The app user’s number increased almost double and right now the company has over 7 million active monthly users.
In April 2021, the platform had over 4.5 million users in India and marked $5 billion in transaction volume in March. After that, it has reportedly reached over seven million monthly active users. It competes with the likes of CoinDCX, ZebPay, WazirX, and Unocoin.
India-based startups are getting investments from some leading and famous investors such as Tiger Global, SoftBank, and Falcon Edge as they have seen the opportunity in the south Asian market.
