CoinSwitch joined the Unicorn Club on Oct 06, 2021 after raising a $260 million Series C funding round led by Andreessen Horowitz, Coinbase Ventures, and Ribbit Capital, reaching a $1.91 billion valuation. Headquartered in Bengaluru, Karnataka, India, CoinSwitch operates a cryptocurrency trading platform enabling users to buy, sell, and trade digital assets using Indian Rupees.
The platform aggregates liquidity across exchanges and offers spot trading, futures, automated tools, and portfolio management for retail and advanced users.
Keep reading to learn how CoinSwitch became one of India’s fastest growing crypto unicorns.
What Is CoinSwitch and What Does It Do?
Founded in 2017, CoinSwitch is a cryptocurrency exchange and trading platform that allows users to trade digital assets using INR. The platform aggregates liquidity from multiple crypto exchanges to offer competitive pricing and simplified portfolio management.
CoinSwitch provides spot trading, futures contracts with leverage, systematic investment plans, automated trading bots, and API access. The platform emphasizes security through encryption protocols, proof of reserves practices, and robust infrastructure designed for both novice and experienced traders.
How Much Funding Has CoinSwitch Raised?
1. Seed Round
- Amount Raised: $1.5 million
- Date: 2018
- Lead Investors: Angel investors and early stage funds
- Purpose: Build core crypto trading infrastructure and early product development
2. Series A Round
- Amount Raised: $15 million
- Date: October 2020
- Lead Investors: Ribbit Capital, Paradigm
- Purpose: Launch CoinSwitch Kuber, expand user base, and strengthen compliance systems
3. Series B Round
- Amount Raised: $30 million
- Date: April 2021
- Lead Investors: Tiger Global Management
- Purpose: Scale operations, expand product offerings, and invest in platform security
4. Series C Round
- Amount Raised: $260 million
- Date: October 06, 2021
- Valuation: $1.91 billion
- Lead Investors: Andreessen Horowitz, Coinbase Ventures, Ribbit Capital, Tiger Global Management, Paradigm
- Purpose: Achieve unicorn status, expand crypto offerings, and grow global ambitions
Total Funding Raised: $302 million Latest Funding Date: October 06, 2021 Latest Known Valuation: $1.91 billion Employee Count: 282 as of May 31, 2025
Key Investors
- Andreessen Horowitz
- Details: Global venture capital firm investing in crypto and web3 infrastructure
- Focus Areas: Cryptocurrencies, blockchain platforms, and decentralized finance
- Coinbase Ventures
- Details: Venture arm of Coinbase supporting crypto ecosystem startups
- Focus Areas: Digital asset platforms, exchanges, and web3 infrastructure
- Ribbit Capital
- Details: Fintech focused venture capital firm backing category defining platforms
- Focus Areas: Financial services, crypto infrastructure, and payments technology
- Tiger Global Management
- Details: Global investment firm backing high growth technology companies
- Focus Areas: Consumer internet, fintech, and digital marketplaces
- Paradigm
- Details: Investment firm focused exclusively on crypto and blockchain technologies
- Focus Areas: Web3 protocols, crypto trading platforms, and decentralized systems
Where Is CoinSwitch’s Headquarters?
CoinSwitch is headquartered in Bengaluru, Karnataka, India, serving as the company’s primary hub for engineering, product development, and operations.
What’s Next for CoinSwitch?
CoinSwitch plans to expand its crypto trading ecosystem, introduce advanced trading products, and improve automation and portfolio tools. The company is focused on strengthening compliance, enhancing security infrastructure, and scaling services for both retail and professional traders as digital asset adoption evolves.
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