Digital asset platform Amber Group valued at $3bn following $200m Series B+ round
Digital asset platform Amber Group has landed a $200 million Series B+ funding round, valuing the company at $3 billion.
The round was led by investment firm Temasek and also saw participation from existing shareholders Sequoia China, Pantera Capital, Tiger Global Management, Tru Arrow Partners and Coinbase Ventures, among others.
The Series B+ is a follow-up to the firm’s previous Series B round in 2021, which saw it raise $100 million. The total investment to date in the company now stands at $328 million.
Founded in 2017 and headquartered in Singapore, Amber Group operates in both institutional and consumer markets across 12 cities.
It provides its more than 1,000 institutional clients algorithmic execution, electronic and OTC market-making derivatives, structured products and advisory services. The company also offers a consumer-centric digital investment app called WhaleFin.
Amber Group’s global CEO Michael Wu says: “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.”
Wu adds Amber Group’s goal is to help create a digital future “where digital assets empower people with the opportunity and agency to shape a better world for all”.
Amber Group claims cumulative transaction volume of more than $1 trillion and says its total assets under management has grown to more than $5 billion since its inception.
The platform is expanding into new markets around the world through regulatory licensing and strategic acquisitions, including the acquisition of Japanese crypto exchange DeCurret Inc.
The company will use the new capital to make hires in its institutional business in Europe and the Americas, expand Whalefin’s global footprint and build out its content creator-focused business pillar OpenVerse.