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Amber Group Raises $100 Million in Series B Funding at $1 Billion Valuation

HONG KONG, June 24, 2021 (GLOBE NEWSWIRE) — Amber Group (www.ambergroup.io), the leading crypto trading and technology firm, announced today it had raised $100 million in Series B funding from China Renaissance Group, Tiger Brokers, Tiger Global Management, Arena Holdings, Tru Arrow Partners, A&T Capital, Sky9 Capital, DCM Ventures, Gobi Partners, as well as existing investors Pantera Capital, Coinbase Ventures, and Blockchain.com. This financing round also includes participation from other leading investors in the crypto space including: Bit Digital, Digital Finance Group, Fenbushi Capital, Math Wallet, SNZ Capital, Continue Capital, and Mr. Zhao Qingsun. The fundraise marks a significant milestone for the company boosting its pre-money valuation to $1 billion, 10x its previous Series A round from 2019, in which the company raised $28 million at a $100 million valuation. The funding round comes at a time when Amber Group is expanding its operations globally to bring its crypto finance offerings to more regions.

“With this new capital from strategic investors, Amber Group will continue to expand global operations to meet client demand and develop market solutions for the world’s leading crypto investors and companies,” said Michael Wu, Co-Founder, and CEO of Amber Group.

Founded in 2017, Amber Group services both institutions and individual investors. With a presence in Hong Kong, Taipei, Seoul, and Vancouver, Amber Group is one of Asia’s leading liquidity providers. It offers clients services including principal algorithmic trading, electronic market-making, high-frequency trading, OTC trading, borrowing and lending, derivatives, and other structured products.

“We’ve had record months over the past quarter across both client flow and on-exchange market-making volumes,” said Wu. “Since stepping up our on-screen presence, we now account for 2-3% of total trading volumes in major spot and derivative markets and are continuing to see growth. Our cumulative trading volumes have doubled from $250 billion since the beginning of the year to over $500 billion.”

With Bitcoin’s market cap closing in on nearly $1 trillion and Ethereum’s on half a trillion dollars, the crypto industry has been showing explosive growth. As a result, not only are more exchanges becoming profitable, trading firms are as well. Ranked on the BitMex public Top 25 Leaderboard by total notional traded, Amber Group has exceeded record revenues in trading. “We have been profitable since inception, and with growing revenues across all business lines, we are now annualizing $500 million in revenues based on January to April 2021 figures,” said Wu.

“Amber Group has established itself as a category leader with its innovative crypto finance offerings, professional team, and trustworthy reputation amongst investors and partners,” said James Rothschild, co-founder of Tru Arrow Partners, the global growth technology firm for families and entrepreneurs. “We are extremely excited to partner with them to explore the opportunities that lie ahead in the crypto space.”

Amber Group highlights opportunities that lie at the intersection of trading and financial technology. Active in the DeFi space as a liquidity provider and trader, the firm currently manages about $1.5 billion in trading capital that varies based on BTC and ETH prices. In early Q3 2020, Amber Group launched their mobile app, ‘Amber App,’ to deliver an advanced suite of tools to assist users in achieving optimal investment returns on their investments. The launch has seen impressive user growth, with the number of registered users increasing four-fold since December 2020 to over 100,000.

When asked about the driving forces behind Amber Group’s rapid growth, Wu explained, “Key to growing the platform has been our continued focus on product development and innovation. We’re continuously innovating our products and adding top talent to our team to service our global user base.” Having started as a small team of less than 10 in 2017, Amber Group now has over 330 employees globally. In the coming months, the company will be announcing further additions to its team, coming mainly from technology and traditional finance companies such as banks and market-making firms.

About Amber Group

Amber Group is one of the world’s leading crypto finance service providers, operating 24/7 with a presence in Hong Kong, Taipei, Seoul, and Vancouver. To date, the company has raised a total of 128 million in funding from China Renaissance, Tiger Brokers, Tiger Global Management, Area Holdings, Tru Arrow Partners, A&T Capital, Sky9 Capital, DCM Fund, Gobi Partners, Paradigm, Pantera Capital, Coinbase Ventures, Blockchain.com, Polychain Capital, Dragonfly Capital, and Fenbushi Capital. For more information, please visit: www.ambergroup.io

Amber Group

Peter Sun, contact@ambergroup.io

888-8662288

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