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News/Amber Group Valued at $1B in $100M Funding Round
Amber Group Valued at $1B in $100M Funding Round

coindesk-2021-06-22 14:55:48


Crypto financial services firm Amber Group has raised $100 million in a Series B round led by Chinese investment firm China Renaissance. The firm scored a pre-money valuation of $1 billion, Amber said Sunday. 


  • With operations in Hong Kong, Taipei, Seoul and Vancouver, Amber Group said it plans to use the funding to expand its global operations.


  • The firm offers algorithmic trading, high-frequency trading and over-the-counter trading to a deep roster of 500 institutional clients, the firm said in April.


  • At the time, Amber boasted $1 billion in assets under management, though crypto prices have dipped since then.


  • “We’ve had record months over the past quarter across both client flow and on-exchange market-making volumes,” Amber Group CEO Michael Wu said in a press release. “Our cumulative trading volumes have doubled from $250 billion since the beginning of the year to over $500 billion.”


  • Participants in the Series B include Tiger Brokers, Tiger Global Management, Arena Holdings, Tru Arrow Partners, Sky9 Capital, DCM Ventures and Gobi Partners.


  • Existing investors Pantera Capital, Coinbase Ventures and Blockchain.com also joined in.


  • Amber Group raised a $28 million Series A in early 2020.


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