Crypto financial services provider Amber Group has just completed a Series B funding round in which it has raised $100 million. As a result, the company's valuation has increased to $1 billion, TechCrunch has reported.
The investment round has been led by China Renaissance, however, Tiger Brokers, Tiger Global Management, Arena Holdings, DCM Ventures and Gobi Partners have also taken part in it.
Amber Group has also received direct funding from Pantera Capital, Coinbase Ventures and Blockchain.com.
The company will use the funds raised to expand operations and develop new solutions.
Amber Group offers its services to institutional and private investors. In the third quarter of last year, Amber Group launched a mobile app that already has 100,000 downloads.
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The company's product line includes algorithmic trading, market making services, high frequency trading, OTC trading, lending and financial derivatives.
Four years after its foundation, the volume of funds under management of the company has exceeded $1 billion, while its cumulative trading volumes amount to as much as $500 billion. It must be noted that the latter figure was half earlier this year.