Amber Group, a Hong Kong-based crypto technology and trading company, has raised $ 100 million in Series B funding for a valuation of $ 1 billion.
Funders included China Renaissance Group, Tiger Brokers, Tiger Global Management, Arena Holdings, Tru Arrow Partners, A&T Capital, Sky9 Capital, DCM Ventures, Gobi Partners, as well as existing investors Pantera Capital, Coinbase Ventures, Blockchain.com, Bit Digital, Digital Finance Group, Fenbushi Capital, Math Wallet, SNZ Capital, Continue Capital and Mr. Zhao Qingsun.
The company intends to use the funds to continue to expand its global operations and develop market solutions for investors and crypto firms.
Founded in 2017 by Michael Wu, CEO, Amber Group is a crypto-finance service provider offering services to its clients including core algorithmic trading, electronic market making, high frequency trading, OTC trading, borrowing and loans, derivatives and other structured products. Operating 24/7 with a presence in Hong Kong, Taipei, Seoul and Vancouver, the company serves both institutions and individual investors.
Active in the DeFi space as a liquidity provider and trader, the company currently manages around $ 1.5 billion in trading capital which fluctuates based on BTC and ETH prices. At the start of the third quarter of 2020, Amber Group launched its mobile application, “Amber App”, to provide an advanced suite of tools to help users achieve optimal returns on their investments.
After starting with a small team of less than 10 people in 2017, the company now has more than 330 employees worldwide.