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- KuCoin
KuCoin Valuation, Funding & Investors
KuCoin is valued at $10B as of July 2022.
Last KuCoin valuation
$10B
Undisclosed stage · Jul 2022
Last KuCoin funding round
$10M
Undisclosed stage · Jul 2022
Cumulative funding KuCoin raised
$180M
across 3 funding rounds
Key investors in KuCoin
IDG Capital
NGC Ventures
Susquehanna International Group
Jump Crypto
Circle
Karnika Yashwant
About KuCoin
KuCoin is a Chinese cryptocurrency exchange supporting spot, margin, futures trading, and staking for over 700 tokens. It caters to global traders with features like trading bots, API access, and fiat on-ramps via bank cards. KuCoin lists projects from Binance and Coinbase ecosystems. Launched in 2017, the platform maintains offices in Singapore and Hong Kong.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Commission
Valuation
$10B (Jul 2022)
KuCoin Valuation
KuCoin is currently valued at $10B, based on its undisclosed-stage round in July 2022.
The $10M round was led by Susquehanna International Group.
KuCoin's valuation has moved from $10B at its Series B in May 2022 to $10B in July 2022, across 2 priced rounds.
KuCoin valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jul 2022 | Undisclosed stage | $10B |
| May 2022 | Series B | $10B |
KuCoin Funding History
KuCoin has raised a total of $180M across 3 funding rounds.
KuCoin's first fundraising round was a $20M Series A in November 2018. The most recent completed round was a $10M undisclosed-stage round in July 2022.
KuCoin funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2022 | Undisclosed stage | Susquehanna International Group (lead) | $10M | $10B | KuCoin is a Seychelles-based global cryptocurrency exchange launched in 2017, supporting over 700 digital assets and 1,200 trading pairs with services including spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to over 20 million users in 207 countries. KuCoin raised $10 million in a strategic investment from Susquehanna International Group (SIG) on July 21, 2022, classified as a corporate minority round. This followed a May 2022 pre-Series B round of $150 million led by Jump Crypto with participation from Circle Ventures, IDG Capital, and Matrix Partners, achieving a $10 billion valuation maintained through the SIG investment. Total funding reached $180 million across rounds including a prior $20 million Series A. Proceeds from the SIG investment supported platform infrastructure upgrades, product enhancements, global expansion, hiring for 300 positions, and joint incubation of crypto startups especially on KuCoin Community Chain (KCC). In H1 2022, KuCoin achieved over $2 trillion in trading volume, up 180% year-over-year, positioning it as a top 5 exchange per CoinMarketCap. |
| May 2022 | Series B | Jump Crypto (lead); IDG Capital; Circle | $150M | $10B | KuCoin, a global cryptocurrency exchange launched in September 2017, supports over 700 digital assets and offers spot trading, margin trading, P2P fiat trading, futures trading, and staking to 18 million users across 200 countries. In May 2022, it raised $150 million in a pre-Series B funding round led by Jump Crypto, with participation from Circle Ventures, IDG Capital, and Matrix Partners, achieving a post-money valuation of $10 billion. The funds were allocated to expand into Web3 areas like crypto wallets, GameFi, DeFi, and NFTs through KuCoin Labs and KuCoin Ventures, upgrade its core trading system for tenfold performance improvement, support global regulatory compliance, and enhance security and risk management. This round marked KuCoin's unicorn-to-decacorn transition, following a $20 million Series A in November 2018 backed by IDG Capital, Matrix Partners, and Neo Global Capital. The investment from prominent crypto-focused firms like Jump Crypto underscored confidence in KuCoin's comprehensive platform serving diverse investor classes. CEO Johnny Lyu emphasized the platform's role as a reliable gateway into crypto. Subsequent developments included a $10 million investment from Susquehanna International Group in July 2022 to upgrade infrastructure and support expansion, maintaining the $10 billion valuation reference. KuCoin continued focusing on product enhancements and global growth amid the competitive crypto exchange landscape. |
| Nov 2018 | Series A | IDG Capital (lead); NGC Ventures (lead); Karnika Yashwant | $20M | - | KuCoin, a Seychelles-based cryptocurrency exchange launched in September 2017 after raising 5,500 Bitcoin via ICO (worth ~$27.5M at the time), completed a $20 million Series A funding round on November 14-15, 2018, led by IDG Capital and NGC Ventures (also referred to as Neo Global Capital), with participation from Matrix Partners. The funds were intended to expand the platform globally, enhance technology including faster transactions and stop-loss features for traders, hire developers and double the 50-person support team, and launch an investment arm similar to competitors like Binance. IDG Capital, a global VC firm focused on technology, media, and telecom, and NGC Ventures, a blockchain investment firm supporting crypto and DeFi ecosystems, were key backers in this round. The 2018 raise followed traditional VC paths amid a trend of crypto firms securing institutional capital. KuCoin aimed to build out serious trading features and enter investments in smaller crypto projects to establish relationships and expand its ecosystem. By 2022, it had grown to serve over 18 million users across 200+ countries, ranking as the fifth largest exchange, with expertise in crypto wallets, NFTs, GameFi, DeFi, and its community-built KCC public chain. |
Who has invested in KuCoin?
6 investors have backed KuCoin across its funding rounds, including IDG Capital, NGC Ventures, Susquehanna International Group, Jump Crypto, Circle and Karnika Yashwant.
Lead investors include Susquehanna International Group, Jump Crypto, IDG Capital and NGC Ventures.
KuCoin Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Nov 2018 | ||
| 1 | Participant | Nov 2018 | ||
| 1 | Lead | Nov 2018 | ||
| 1 | Lead | Jul 2022 | ||
This data is available for Pro users. Sign up to see all 6 KuCoin investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by KuCoin
KuCoin has acquired 1 company to date.
Last acquisition by KuCoin was on June 13th 2025. KuCoin acquired KuCoin Thailand for undisclosed valuation.
Latest Acquisitions by KuCoin
| Description | KuCoin Thailand is a Bangkok-based digital asset exchange licensed by Thailand's SEC for buying, selling, and storing cryptocurrencies like Bitcoin and Ethereum. It provides THB trading pairs and wallet services compliant with local regulations. Integrated with Thai banks for seamless deposits, the platform serves retail investors. Operating since 2021, it expands KuCoin's Southeast Asian footprint. |
| HQ Country | |
| HQ City | Bangkok |
| Deal Date | 13 Jun 2025 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all KuCoin acquisitions and their M&A valuation multiples. Start Free Trial | |
Investments by KuCoin
KuCoin has invested in 24 companies to date.
Latest investment by KuCoin was on March 6th 2026. KuCoin invested in Utexo in their $8M Seed round.
Latest Investments by KuCoin
| Description | Utexo develops payment infrastructure for stablecoin transactions settling on the Bitcoin network. Utexo supplies an API and tools enabling payment operators, exchanges, wallets, and financial platforms to handle USDT transfers via Bitcoin rails with Lightning Network and RGB protocol support. The company provides cloud infrastructure managing routing, liquidity, and node operations. | E Money Network is a compliance-focused blockchain platform for tokenizing real-world assets like real estate and commodities. Built on Cosmos SDK, it enables institutional-grade issuance and trading with built-in KYC/AML protocols, headquartered in Zug, Switzerland. | AutoLayer is a Singapore-based decentralized finance protocol for liquid restaking tokens on Ethereum. The platform enables users to restake assets like ETH and receive LRTs tradable on Uniswap and Curve while earning yields from EigenLayer and Symbiotic. AutoLayer automates AVS allocations across restaking networks, operating smart contracts audited by PeckShield. It supports integrations with wallets like MetaMask for seamless deposits from layer-2 chains such as Arbitrum. | TEN is a privacy-preserving Layer 2 rollup built by Obscuro Labs for Ethereum scaling. It integrates zero-knowledge proofs to encrypt transaction data and smart contract states while maintaining full compatibility with Ethereum Virtual Machine tools. Developers deploy contracts with selective public and private components seamlessly. The platform supports high-throughput execution off-chain before settling on Ethereum mainnet. Obscuro Labs, based in London, launched TEN in 2023 to address confidentiality needs in decentralized finance and enterprise applications. | |
| HQ Country | |||||
| HQ City | Dubai | Lodz | Tallinn | London | |
| Deal Date | 6 Mar 2026 | 31 May 2024 | 2 Apr 2024 | 15 Mar 2024 | |
| Round | Seed | Seed | Seed | Seed | |
| Raised | $8M | $3M | $3M | $9M | |
| Investors | Alchemy; Auros; Western Asset Investment; Tether; Sats Ventures; Gate Ventures; Fulgur Ventures; Portal Ventures; Paul Taylor; Axia8 Ventures; Arcanum Capital; Maven 11 Capital; Big Brain Holdings | Banter Capital; Momentum 6; Morningstar Ventures; Blockchain Founders Fund; Animoca Brands; GBV Capital; Black Edge Capital | Morningstar Ventures; Dewhales Capital; Staked.vc; Black Edge Capital; Spark Digital Capital; Poolz Finance | Republic Crypto; Jets Capital; R3; DWF Labs; Magnus Capital; Big Brain Holdings | |
| Valuation | undisclosed | $44M | undisclosed | $30M | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all KuCoin investments and their VC round multiples. Start Free Trial | |||||
KuCoin Competitors
KuCoin competitors include listed companies like Coinbase and XP Investimentos, and private ones like Kraken, Mercado Bitcoin, Labs and Alchemy.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $2.2B | $531M | $21B | 9.5x | ||
| Publicly listed | $7.2B | $1.8B | $46B | 7.6x | ||
| Private | - | - | $2.1B | - | ||
| Private | - | - | $10B | - | ||
| Private | - | - | $10B | - | ||
| Publicly listed | $1.5B | $1.2B | $10B | 5.2x |
KuCoin Public Comps
KuCoin is still privately-owned, but its public comps include XP Investimentos, Nordnet, Paytm, StoneX Group, Groww, Swissquote, IG Group, MarketAxess, BitMine and Bullish.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.5B | $1.2B | 12.6x | 5.2x | 15.9x | 15.4x | |||
| $550M | - | 17.3x | 14.9x | - | - | |||
| $854M | $41M | 13.8x | 11.8x | 288.1x | 119.6x | |||
| $132B | $2B | 0.2x | 5.0x | 14.6x | - | |||
| $445M | $253M | 26.6x | 20.7x | 46.8x | 33.4x | |||
| $880M | - | 7.1x | 6.9x | - | - | |||
| $1.3B | $533M | 4.2x | 3.2x | 10.0x | 6.8x | |||
| $846M | $428M | 6.7x | 6.5x | 13.3x | 13.1x | |||
This data is available for Pro users. Sign up to see all KuCoin competitors and their valuation data. Start Free Trial | ||||||||
Common questions about KuCoin
| When was KuCoin founded? | KuCoin was founded in 2017. |
| Where is KuCoin headquartered? | KuCoin is headquartered in China. |
| Is KuCoin publicly listed? | No, KuCoin is a private, VC-backed company. |
| What is KuCoin's valuation? | KuCoin was last valued at $10B in its undisclosed-stage round in July 2022. |
| How much funding has KuCoin raised? | KuCoin has raised $180M across 3 funding rounds. |
| What was KuCoin's last funding round? | KuCoin's last funding round was a $10M undisclosed-stage round in July 2022, led by Susquehanna International Group. |
| Who are KuCoin's investors? | KuCoin's investors include IDG Capital, Karnika Yashwant, NGC Ventures, Susquehanna International Group, Circle and Jump Crypto. |
| Which companies are comparable to KuCoin? | Companies comparable to KuCoin include Kraken, Coinbase, Mercado Bitcoin, Labs, Alchemy and XP Investimentos. |
| How many companies has KuCoin acquired? | KuCoin has acquired 1 company, including KuCoin Thailand. |
| How many companies has KuCoin invested in? | KuCoin has invested in 24 companies, including Utexo, E Money Network, AutoLayer, TEN (Obscuro Labs), Exverse, Arcade2earn, Kryptview and Lifeform. |
| What was KuCoin's last investment? | In March 2026, KuCoin invested in Utexo's $8M seed round alongside Alchemy, Auros, Western Asset Investment and 10 other investors. |
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