Crypto Finance Startup Amber Raises $28M in Sequence A Led By Pantera, Paradigm
Amber Group, a Hong Kong-based startup providing a spread of cryptocurrency finance companies, has raised $28 million in a Sequence A spherical.
Main the funding are Paradigm and Pantera Capital, with Polychain Capital, Blockchain.com, Coinbase Ventures and Fenbushi Capital additionally collaborating. Present investor Dragonfly Capital was additionally on board.
Asserting the information on Friday, Amber mentioned the funding funds shall be used to broaden its operations to fulfill shopper demand and add new options to its platform.
“Whereas the trade has come a good distance, there’s nonetheless loads of work to do as a way to meet the rising calls for of shoppers in a fragmented market.” mentioned Michael Wu, Amber Group CEO. “We’re thrilled to companion with a few of the world’s main buyers and crypto corporations to speed up our mission of strengthening the crypto finance ecosystem.”
The agency provides shoppers companies akin to crypto-based digital market making, automated OTC buying and selling, and collateralized lending. It already has shoppers together with exchanges, mining corporations and swimming pools, wallets and hedge funds, in accordance with its announcement.
“Our most profitable investments have been once we’ve discovered corporations doing one thing higher than we are able to ourselves,” mentioned Dan Morehead, founder and CEO of Pantera Capital. “Amber dramatically improved our digital execution throughout a large spectrum of property.”
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