Indian crypto platform CoinSwitch revenue jumps 150%
Bengaluru-based crypto investing platform CoinSwitch has become profitable on an adjusted EBITDA basis. The company's revenue surged 150% year-on-year to 3.2 billion rupees in fiscal year 2026.
Indian crypto platform CoinSwitch announced on September 29 that it has achieved profitability on an adjusted EBITDA basis for fiscal year 2026. The company's revenue saw a 150% increase compared to the previous year, reaching 3.2 billion rupees (approximately $33.8 million).
The adjusted EBITDA rose to 863.8 million rupees ($9.02 million) from 16.5 million rupees ($172,000) in fiscal year 2025. The adjusted EBITDA margin widened to 27% from 1%, while operating costs increased by 37% to 2.7 billion rupees ($28.2 million).
CoinSwitch's core business involves crypto services that enable users to buy and trade digital assets. The company also offers systematic investment plans (SIPs) as a recurring investment product for cryptocurrencies.
Previously, the company raised $260 million in a Series C funding round announced in October 2021 from investors including Coinbase Ventures and Andreessen Horowitz. This move to profitability occurs as India's crypto sector operates under a tighter tax regime that had previously impacted trading volumes on local exchanges.