Cryptocurrency trading platform Amber Group, which received $28 million in investment from Coinbase in the Series A investment tour in 2019, raised $100 million in the Series B investment tour led by China Renaissance.
Cryptocurrency trading platform Amber Group, which received $28 million in investment from Coinbase in the Series A investment tour in 2019, raised $100 million in the Series B investment tour led by China Renaissance. Tiger Brokers, Tiger Global Management, Arena Holdings, Tru Arrow Partners, Sky9 Capital, DCM Ventures and Gobi Partners also participated in this new round. The company's valuation reached $1 billion after this investment, and Amber Group became one of the companies that achieved unicorn company status.
Founded by young investment bankers who previously worked at companies such as Morgan Stanley, Goldman Sachs, Hong Kong-based Amber Group serves both institutional and individual investors, offering algorithmic trading, electronic market, high-frequency trading, OTC trading, debt-focused products.
The platform serves more than 200 corporate customers 24 hours a day, 7 days a week; It trades cumulatively over $200 billion on more than 60 electronic exchanges, with an average daily trading volume of $100-200 million. With offices in Hong Kong, Taipei, Seoul and Vancouver, the company operates globally with more than 330 employees.
Amber Group's mobile app expanded from corporate customers to retail consumers in the third quarter of 2020. The company's trading application has more than 100,000 registered users so far. The company announced that they will use the new investment for global expansion.
Finally, let's mention that Amber Group plans to generate around $500 million in revenue by the end of this year and has said that it has been profitable since its establishment.
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