Amber Group Has Secured $200 Million in a Funding round Led by Temasek

February 22, 2022 - Around 2 mins mins to read

Amber Group Has Raised $200M Funda

The leading global digital asset platform Amber Group has raised $200 million in a funding round led by Singapore’s sovereign wealth fund Temasek, bringing its valuation to $3 billion.

We are excited to announce our Series B+, which comes at a time of rapidly increasing crypto adoption globally. The investment reinforces Amber Group’s strategic alignment with its investors, as well as a shared vision of digital assets’ future in a new, digital economy. #wagmi pic.twitter.com/6EOHd1H8Gx
— Amber Group (@ambergroup_io) February 22, 2022

Sequoia China, Pantera Capital, Tiger Global Management, Tru Arrow Partners, and Coinbase Ventures were among the existing investors in the round. The new funds will be used to expand the company, make strategic acquisitions, hire new employees, and support sustainability initiatives.

“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, which was founded in 2017, has developed expertise in both institutional and consumer markets. The Singapore-based company is one of the world’s leading liquidity providers, with operations in 12 cities and services such as algorithmic execution, electronic and OTC market-making derivatives, structured products, and advisory services. Amber Group’s OpenVerse business also includes an award-winning consumer app, WhaleFin, as well as a full suite of creative services and infrastructure.

The company became a unicorn in June of last year, after raising $100 million in a Series B round to raise its valuation to $1 billion. This funding comes a month after Singapore’s central bank, the Monetary Authority of Singapore, banned crypto advertisements and promotions.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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