We study the number of collisions, Xn, of an exchangeable coalescent with multiple collisions (Λ-coalescent) which starts with n particles and is driven by rates determined by a finite characteristic measure η(dx) = x−2Λ(dx). Via a coupling technique, we derive limiting laws of Xn, using previous results on regenerative compositions derived from stick-breaking partitions of the unit interval. The possible limiting laws of Xn include normal, stable with index 1 ≤ α < 2, and Mittag-Leffler distributions. The results apply, in particular, to the case when η is a beta(a − 2, b) distribution with parameters a > 2 and b > 0. The approach taken allows us to derive asymptotics of three other functionals of the coalescent: the absorption time, the length of an external branch chosen at random from the n external branches, and the number of collision events that occur before the randomly selected external branch coalesces with one of its neighbours.