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Amber Group secures USD 100 mln in Series B funding round

Tuesday 22 June 2021 12:26 CET | News

Amber Group, a Hong Kong-based cryptocurrency trading startup, has raised USD 100 million in a Series B funding round at a pre-money valuation of USD 1 billion.

Amber’s Series B financing was bankrolled by a list of financial and VC firms, including China Renaissance, which led the round, and Tiger Brokers, Tiger Global Management, Arena Holdings, Tru Arrow Partners, Sky9 Capital, DCM Ventures, and Gobi Partners. The firm’s past investors Pantera Capital, Coinbase Ventures and Blockchain.com also participated in the new round.

Amber initially set out to apply machine learning algorithms to quantitative trading but pivoted in 2017 to crypto when the team saw spikes in virtual currency’s trading volumes. The startup now serves both institutional and individual investors, offering them algorithmic trading, electronic market-making, high-frequency trading, OTC trading, borrowing and lending, and derivatives, among other products.

The firm launched its mobile app in the third quarter of 2020, widening its scope from institutional clients to retail consumers. 


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Keywords: cryptocurrency, startup, funding, digital assets, machine learning
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: Hong Kong
This article is part of category

Blockchain & Cryptocurrencies