Crypto finance service provider Amber is now valued at $3 billion after a funding round which was led by Temasek Holdings, a Singaporean state-owned investment company.
It was confirmed yesterday that Amber Group managed to raise $200 million in its Series B+ funding round. Other names involved were Coinbase Ventures, Sequoia China, Pantera Capital, Tiger Global Management, and Tru Arrow Partners.
Compared to June 2021, Amber has increased its valuation by three times. Back then, following a Series B round of funding, the company was valued at $1 billion. The company now has around $5 billion in assets under management.
The plan is to use the new investment money for “key hires to support our institutional business in Europe and the Americas,” and increase the global reach of its consumer-side WhaleFin mobile-based crypto investing platform.
A partner at Sequoia China, Steven Ji, declared:
“Digital assets are becoming an increasingly important category to watch, especially for institutional investors.”
As of now, Amber Group has managed to register more than $1 trillion in cumulative trading volume.