Amber, the China-based crypto-trading services provider backed by crypto exchange operators Blockchain.com and Coinbase, has received $100m in a series B round led by investment bank China Renaissance.
The round also featured Tiger Brokers, Tiger Global Management, Arena Holdings, Tru Arrow Partners, A&T Capital, Sky9 Capital, DCM Ventures and Gobi Partners. The cash was raised at a pre-money valuation of $1bn, according to several media outlets.
Founded in 2015, Amber offers a range of services to help individuals, financial exchanges, mining pools, hedge funds and institutions access, trade and manage cryptocurrencies.
The capital will be used to expand Amber’s global operations and further develop market solutions for crypto investors and companies.
The company serves about 500 institutional clients and has cumulatively traded over $330bn across more than 100 electronic exchanges. It has over $1bn in assets under management.
Amber had previously raised $28m in a February 2020 series A funding round co-led by Paradigm and Pantera Capital with backing from Blockchain.com, Coinbase subsidiary Coinbase Ventures, Polychain Capital and Dragonfly Capital.