- CoinSwitch Kuber has raised a whopping $15 million fund from Ribbit Capital and crypto investment company Paradigm.
- The fund will be used to promote P2P blockchain-based products not only in India but to the entire world.
Indian crypto firm CoinSwitch Kuber has raised more than $15 million in funds. The startup raised this money from Ribbit Capital and San-Francisco based crypto investment company Paradigm.
Meanwhile, the company aims to increase its popularity in the Indian market. Therefore, they are targeting a 10x user growth by the end of the year.
CoinSwitch Kuber CEO Ashish Singhal said,
To this end, we will invest in product and technology and also run a slew of awareness initiatives to educate investors about the potential of crypto as an emerging asset class.
With this, the company hopes to make crypto investment an easy task at all costs.
General partner at Ribbit Capital Nick Shalek also wrote,
We are very excited to invest in CoinSwitch, which we believe can become a generational technology brand in India.
In addition, Nick further explains that CoinSwitch takes good care of its customers well. “We backed the team not only because of their track record of product and technology innovation but also because of their resolute commitment to serving their customers,” he says.
CoinSwitch was launched by Ashish Singhal, Govind Soni, and Vimal Sagar Tiwari in 2017. Soon after the launch, CoinSwitch Kuber reported to have a million users with a 2,000 crore INR investment.