Coinswitch Kuber, a startup that allows young users in India to invest in cryptocurrencies, said on Thursday it has raised $25 million in a new financing round as it looks to expand its reach in India, the world’s second largest internet market and also the place where the future of private cryptocurrencies remains uncertain for now.
Tiger Global financed the entire Series B funding round of Coinswitch Kuber and valued the three-year-old Indian startup at over $500 million. The announcement of Series B comes just three months after Coinswitch closed its $15 million Series A round from Ribbit Capital, Sequoia Capital India, and Kunal Shah. The Bangalore-based startup has raised $41.5 million to date.
TechCrunch reported earlier this month that the New York-headquartered technology hedge fund had led or was in advanced stages of talks to lead investments in many Indian startups including Coinswitch.
Coinswitch Kuber is one ...
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