Singaporean state investment firm Temasek Holdings Pte, was among investors in a funding round that valued cryptocurrency trading platform Amber Group at $3 billion.
Existing shareholders including Sequoia China, Pantera Capital and Tiger Global Management also took part in the $200 million funding round.
Quoting Bloomberg (22/2), Amber will use the results for recruitment in Europe and America and expand the scope of the mobile application launched last year globally.
For your information, Singapore is one of the hottest markets in Asia for crypto startups, and Temasek and its subsidiaries have made several investments in this sector in the past year.
Seeing this, Amber Chief Executive Officer Michael Wu revealed that his party deliberately extended the Series B funding round specifically to bring Temasek as an investor.
“They are very strategic, so we made this special effort to bring them in,” Wu said.
Meanwhile, Wu said Amber could pursue another funding round later this year ahead of an initial public offering, most likely in the US, which could take place in the second half of 2023.
