CoinSwitch Kuber has become the largest valued cryptocurrency platform in India following the close of a $25m Series B.
The investment round, which was led by private equity firm Tiger Global Management, valued the FinTech at $500m.
Over the past quarter, the company has grown by 350% and now serves over 4.5 million customers through its mobile apps.
This Series B round comes just months after the company collected $15m in its Series A, which was supported by Ribbit Capital, Sequoia Capital and Paradigm.
The FinTech is currently making a number of product developments, including early warning systems to help investors make better decisions, a limit order feature and a watchlist to track currencies.
Its future milestones include reaching 10 million customers by the end of the year, hiring staff across its technology, operations, marketing, product and compliance teams, and boosting its product performance.
CoinSwitch enables consumers to buy and sell cryptocurrencies instantly, for a small fee. The app is available on both Android and iOS.
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