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Global digital asset platform Amber Group Raised $200 Million in Series B funding round led by Temasek

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Indrani bose Follow

INDIA

Feb, 23 2022

Feb, 23 2022

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Amber Group, a global digital asset platform, based in Singapore announced that it has raised $200 million in a Series B funding round led by investment company Temasek which is owned by the government of Singapore. This led to valuing the company at US$3 billion.

In the round, other members participated who were existing shareholders like Sequoia China, Pantera Capital, Tiger Global Management, Tru Arrow Partners, Coinbase Ventures, and more. With the new funds, the firm will hire key personnel in Europe and the Americas to support its institutional business in both countries.

Several months back, in 2021, Amber Group raised US$100 million in a Series B funding round taking its total capital raised to US$328 million. At that time company was valued at $1 billion. Thus, the firm has its valuation triple in less than one year despite a market that’s shifting towards the bear territory. According to a press release, the firm said over 1,000 institutional clients and more than $5 billion in assets are managed by the company.

Furthermore, Amber Group plans to expand WhaleFin's global footprint and advance OpenVerse, its creator-focused business venture that features gaming studios, sports collectibles, digital artists, and other partners.

Michael Wu, Amber Group’s Global Chief Executive Officer said, “This latest round of capital will bring Amber Group to the next level. We will cast our sights beyond business expansion and strategic acquisitions too, as part of our commitment to building a sustainable future for all. We will continue to broaden our support of sustainability initiatives, with our recent partnership with the Whale and Dolphin Conservation (WDC) being only the start of this journey,”

About Amber Group

Amber Group was founded in 2017. It has its headquartered in Singapore. With global operations across 12 cities, Amber Group has developed expertise in serving both institutional and consumer markets. Amber Group offers liquidity and market-making services to several clients in Asia. Over the past five years, Amber Group has experienced tremendous growth, with a cumulative transaction volume exceeding US$1 trillion and assets under management equalling US$5 billion. Moreover, the company has expanded its license list after receiving regulatory approvals from in-market financial authorities in Australia, the UK, Japan, and Switzerland. Through licensing and strategic acquisitions, Amber Group is now expanding into new markets around the world, including its recent acquisition of Japanese cryptocurrency exchange, DeCurret.


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Indrani bose

CBW - External Analyst

INDIA

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