CoinSwitch Turns Profitable as FY26 Revenue Jumps 150%
CoinSwitch turns profitable in FY26 as revenue surges 150% to ₹324 crore, EBITDA jumps 50x.
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CoinSwitch turned profitable on an Adjusted EBITDA basis in FY26, with revenue surging 150% year-on-year to INR 324.19 crore, up INR194.49 crore from the previous year. Adjusted EBITDA rose more than 50-fold to INR 86.38 crore from INR 1.65 crore in FY25, while Adjusted EBITDA margin expanded to 27% from 1%.
Revenue grew more than four times faster than operating costs, which rose 37% to INR 270.07 crore during the year, creating significant operating leverage. Revenue per employee more than doubled in FY26, even as the company’s employee base grew 11%. CoinSwitch continued investing in technology, product, security and customer experience while maintaining cost discipline, and expanded its educational initiatives aimed at simplifying crypto for first-time users.
Founded in 2017 by Ashish Singhal, Vimal Sagar Tiwari and Govind Soni, CoinSwitch serves over 2 crore users and offers more than 450 coins on its platform. The company is backed by investors including Andreessen Horowitz, Tiger Global, Ribbit Capital, Peak XV Partners and Paradigm.
“Nine years of building a company teaches you that growth is only one part of the story. The harder part is building a business that can scale without losing discipline. In FY26, we grew revenue 150% while operating costs grew 37%,” said Ashish Singhal, Co-founder, CoinSwitch.
CoinSwitch turned profitable on an Adjusted EBITDA basis in FY26, with revenue surging 150% year-on-year to INR 324.19 crore, up INR194.49 crore from the previous year. Adjusted EBITDA rose more than 50-fold to INR 86.38 crore from INR 1.65 crore in FY25, while Adjusted EBITDA margin expanded to 27% from 1%.
Revenue grew more than four times faster than operating costs, which rose 37% to INR 270.07 crore during the year, creating significant operating leverage. Revenue per employee more than doubled in FY26, even as the company’s employee base grew 11%. CoinSwitch continued investing in technology, product, security and customer experience while maintaining cost discipline, and expanded its educational initiatives aimed at simplifying crypto for first-time users.
Founded in 2017 by Ashish Singhal, Vimal Sagar Tiwari and Govind Soni, CoinSwitch serves over 2 crore users and offers more than 450 coins on its platform. The company is backed by investors including Andreessen Horowitz, Tiger Global, Ribbit Capital, Peak XV Partners and Paradigm.
“Nine years of building a company teaches you that growth is only one part of the story. The harder part is building a business that can scale without losing discipline. In FY26, we grew revenue 150% while operating costs grew 37%,” said Ashish Singhal, Co-founder, CoinSwitch.
