Indian crypto exchange CoinSwitch Kuber is in advanced stages of talks to raise a new financing round at up to $2 billion in valuation, several sources familiar with the matter told TechCrunch.
If the talks materialize in a deal, CoinSwitch Kuber will become the second crypto startup in the world’s second largest internet market to attain the unicorn status.
The four-year-old startup, which counts Tiger Global, Sequoia Capital India, and Ribbit Capital among its existing investors, was valued at over $500 million valuation in its Series B financing round in April this year.
It’s unclear who is positioning to lead the round. The firm has engaged closely with Andreessen Horowitz and Coinbase in recent weeks, several people aware of those discussions told TechCrunch.
A deal may finalize within this month, sources said. The size of the deal, according to one source, is over $100 million. Usual caveats apply: terms of the proposed deal may change or the talks…