China-based blockchain company Goopal has raised $12m in a series A++ round backed by Legend Capital, the venture capital firm formed by conglomerate Legend, China Money Network reported on Tuesday.
The round also featured quantitative trading and technology firm Susquehanna International Group. It follows a series A+ round in November 2017, though no further details have been revealed.
Founded in 2016, Goopal focuses on investing in and incubating blockchain technologies such as cryptocurrency wallets and has backed more than 20 projects to date. Its name is a portmanteau of Google and PayPal.
The company was co-founded by Sun Jiangtao, CEO of China Binary Sale Technology, Gaorong Capital and Haitong Securities.
Jin Wenji, managing director at Legend Capital, said: “2018 is a critical year as regulators have tightened investment rules and investors become more rational. Legend Capital will invest in the top players in blockchain to create sustainable values with blockchain entrepreneurs.”