- Amber Group has raised a total of $328 million to date
- The firm has over $5 billion in assets under management
Crypto trading platform Amber Group raised a $200 million round, which the company has earmarked for hires and product expansion.
The Series B+ round, which values the company at more than $3 billion, could also be used for acquisitions, CEO Michael Wu said in a statement.
The capital raise follows its $100 million Series B in June 2021, bringing the firm’s total fundraising haul to $328 million.
Investment firm Temasek led the recent round, with participation from existing investors such as Coinbase Ventures, Pantera Capital, Sequoia China, Tiger Global Management and Tru Arrow Partners.
The funds will be used to hire in Europe and the Americas; expand its consumer app, WhaleFin, globally; and build out its creator-focused venture, OpenVerse.
The Singapore-based firm was founded in 2017 and works with over 1,000 clients in institutional and consumer markets. It offers algorithmic execution, electronic and over-the-counter market-making derivatives, structured products and advisory services.
Since inception, Amber Group’s cumulative transaction volume has surpassed $1 trillion, and the company has over $5 billion in assets under management.
“From radically transforming the concept of ownership and value in the global economy, digital assets are redefining the way we live outside of the financial ecosystem,” Wu said. “We want to help create a digital future where digital assets empower people with the opportunity and agency to shape a better world for all.”
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