Crypto asset platform CoinSwitch Kuber today announced that it has closed an over $260million Series C funding round from Andreessen Horowitz (a16z), Coinbase Ventures and existing investors Paradigm, Ribbit Capital, Sequoia Capital India and Tiger Global. a16z is a globally leading venture capital firm, while Coinbase operates one of the world’s largest crypto exchanges.
With this investment CoinSwitch Kuber has attained unicorn status with a vaulation of $1.9 billion.
The new funding will be utilised for the launch of new products/services, hiring, addition of new asset classes, attract institutional investments, set up an ecosystem fund to identify and enable the budding talent in the country, besides create awareness about cryptocurrency.
Ashish Singhal, Co-founder and CEO, CoinSwitch Kuber, said, “CoinSwitch Kuber is on a mission to build wealth for Indians by making crypto more accessible. I believe, simplifying crypto investments for the Indian youth has helped us to stand out. We wanted to remove all the complexities in crypto trading, educate consumers and give them a simplified experience of one-click buy and sell in crypto.”