Crypto Startup Amber Raises $200M From Temasek

In the Serie B+ round led by Temasek, Amber reached a valuation of $3 billion.

Singapore-based crypto finance provider and investing startup Amber Group has announced a $200 million raise led by Temasek Holdings Pte, a sovereign wealth fund that is also based in Singapore, valuing the group at $3 billion.

Current shareholders Sequoia China, Pantera Capital, Tru Arrow Partners, Coinbase Ventures, and Tiger Global Management also contributed to the $200 million Series B+ fundraise.

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

Amber, founded by former Morgan Stanley traders, extended its Series B funding round, originally announced in June, specifically to bring Temasek in as an investor, said Chief Executive Officer Michael Wu.

“They are very strategic, so we made this special effort to bring them in,” Wu said.

The company plans to use the funds to hire in Europe and America for their institutional business and to extend the worldwide reach of WhaleFin, a crypto investing smartphone app it introduced last year.

Amber’s valuation has increased threefold since last June when it was valued at $1 billion in its Series B round of funding.

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

Follow The Crypto Times on Google News to Stay Updated!