Tuesday, October 4, 2022

Amber Group Raises $200M in Series B+ as Valuation Tops $3B

Singapore-based digital assets service provider, Amber Group has announced the successful completion of its Series B+ in which it raised $200 million from investors.

The funding round came as a sequel to the Series B funding completed last year, and this round was led by Singapore government-backed investment company Temasek, with participation from Sequoia China, Pantera Capital, Tiger Global Management, Tru Arrow Partners, and Coinbase Ventures among others.

The successful funding round earned Amber Group a market capitalization of $3 billion, and since its inception, it has raised a total of $328 million, however, this Series b+ is the largest on record for the company. The high caliber participation showcases how aligned Amber Group’s growth pursuits and business model aligns with those of its investors.

“From radically transforming the concept of ownership and value in the global economy, digital assets are redefining the way we live outside of the financial ecosystem. At Amber Group, we want to do more than just enable mainstream digital asset adoption. We want to help create a digital future where digital assets empower people with the opportunity and agency to shape a better world for all. We are proud to have the support of our investors who not only share this vision but also put their capital and trust in us to achieve it,” said Amber Group’s Global Chief Executive Officer, Michael Wu.

Amber Group has made the headlines for several good reasons in the past few months and according to prominent reports, the firm acquired Japanese-based Decurret Holdings to extend its footprint in the country.

Venture Capital funding continues to flood the blockchain and crypto ecosystem, and the deep liquidity being secured by outfits like Amber Group can be put to use in making strategic acquisitions and business positioning as the Web3.0 ecosystem matures further. While many have benefited from the massive funding thus far, platforms like Ref Finance are amongst the latest beneficiaries as it secures $4.5 million per a recent CryptoMarketsBeat report.

Godfrey Benjaminhttps://cryptomarketsbeat.com
I'm just a nerd who wants the world to know about the unique capabilities of blockchain and digital currencies

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