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.
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.