Cryptocurrency investment platform CoinSwitch Kuber has raised $15 million in Series A funding round. The funding round was led by Ribbit Capital and San-Francisco based crypto focussed investment firm Paradigm.

Existing investors Sequoia Capital India and CRED founder Kunal Shah also participated in the funding round.

As per the startup, it will use the funding amount to enhance its product, security, compliance and tech capabilities, and brand building.

CoinSwitch is a Bengaluru-headquartered three-year-old global aggregator of cryptocurrency exchanges started in 2017 by Ashish Singhal, Vimal Sagar Tiwari and Govind Soni. The startup launched its India-focused crypto trading platform, CoinSwitch Kuber, last June.

Speaking on the latest funding round, Ashish Singhal, Co-founder & CEO of CoinSwitch Kuber, said,

“We aim to double down on the Indian market and are targeting ten times growth in our user base by the end of the year. 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.”

CoinSwitch Kuber is a secure, user-friendly platform for users in India. Users can buy 100+ cryptocurrencies like Bitcoin, Ethereum, Ripple etc. easily, at the best rate on the platform.

Within six months of launch, CoinSwitch Kuber already has over one million users. It expects to have 10 million in the next year.

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