CoinDCX in talks to raise $100-120 million

Cryptocurrency exchange platform CoinDCX is in discussions to close a new financing round of $100-120 million (Rs 743-892 crore) from investors led by Facebook cofounder Eduardo Saverin’s B Capital Group, three people in the know of the matter said.

Existing investors Polychain Capital and Coinbase Ventures will also be participating in the round, which will value the company at more than $1 billion, these people said, making it the first crypto exchange to enter India’s swelling unicorn club. A privately held firm with a valuation of more than $1 billion is termed a unicorn.