fbpx

AIBC

Crypto unicorn prances after $100 million funding round

Posted:Jun 22, 2021 11:11 Category: Asia , Fintech , Posted by
Stanley Yin

The four-year-old crypto service provider Amber Group has reached a worth of $1 billion

No matter the drawbacks and price dips, crypto is alive and well, breathing through the emergence of new start-ups, and recently, another unicorn. The Amber Group, a financial crypto service provider based in Hong Kong, has now completed their series B funding round, gathering a total of $100 million, propelling the company to a total worth of a billion Dollars. The firm manages a sum of $1.5 billion in crypto assets and has seen its largest growth in just the past year.

The series B round was most notably led by China Renaissance and the returning investors Coinbase, Blockchain.com and Pantera.

For the most part, the newly won capital to be used to fill the 100 vacant positions across the world to expand on their formidable team of 340 worders, mostly in Hong Kong, Europe, the US and Canada, with an eye on a potential expansion to South America.

Unsurprisingly, CEO Michael Wu did not foresee such a rapid success story. According to Forbes, Wu made the following statement on the overwhelming developments:

MichaelWu_AmberGroup_viaLinkedIn-1Our fundraising was never really about raising the capital. In 2019 when we did our series A, it was about bringing institutional partners like Coinbase, like Paradigm, to help us scale. This time again it’s about bringing these institutional partners China Renaissance, Tiger, Pantera, Coinbase, to help us first scale, to utilize their expertise, their resources and their brand to help us attract the best talents to bring our brand to the global customers.

Next up: Malta Week

Don’t miss out on amazing networking opportunities and exclusive industry insights at Malta Week. Four leading shows will bring the best of the business back-to-back to a first-class meeting point. Malta Week will consist of SiGMAAIBCMed-Tech World and AGS, each presenting the top developments of their focal industries.

The cross-collaboration of each brand make Malta Week the number one destination for leading think-tanks of the gaming sector, emerging tech, digital health and digital marketing. The middle of the Mediterranean is the perfect place for multi-faceted business deals and face-to-face conversations with leading affiliates, policy makers and thought leaders.

Related Posts

Nasdaq’s crypto exchange launch on…

Institutionalisation is key to creating stability and longevity with investors. [caption id="attachment_152559" align="alignleft" width="201"] Tal Cohen, Executive Vice President and…

FSOC warn cryptos could pose…

“The rapid growth of digital asset activities, including stablecoins and lending and borrowing on digital assets trading platforms, is an…

Kim Kardashian pays SEC $1.26M…

Kardashian concealed a $250,000 payment she had received in exchange for promoting EthereumMax and its token-burning feature in a message…