Crypto startup CoinDCX has announced a significant ESOP (employee stock ownership plan) liquidity event, amounting to ₹111 Cr. This move reflects the company’s financial strength and maturity in the digital asset sector.
The buyback, providing liquidity to over 500 current and former employees, underscores CoinDCX’s commitment to valuing employee contributions. By including former employees, the startup recognizes their lasting impact and acknowledges their role in its success.
Having raised funds from investors like Pantera Capital, B Capital Ventures, and Bain Capital, CoinDCX’s recent undisclosed capital raise from Coinbase boosted its post-money valuation to $2.45 Bn, solidifying its position as a key player in the crypto space.
For the fiscal year FY25, CoinDCX reported a net profit of ₹1.7 Cr, showcasing a notable increase from the previous year. With operating revenue rising to ₹559.6 Cr, the startup’s revenue model primarily relies on transaction fees from cryptocurrency trading on its platform.
Founded in 2018, CoinDCX offers users a platform to seamlessly trade cryptocurrencies and digital assets, contributing to the growing ecosystem of digital finance.
Source: Inc42 Media