Hong Kong, 14 February 2020 - Amber Group just announced today that they have raised $28mm from a stellar consortium of investors led by Paradigm and Pantera Capital. The round includes new investors including Polychain Capital, Blockchain.com, Coinbase Ventures and Fenbushi Capital, with existing investor Dragonfly Capital also taking part. The capital will be used to grow operations to support and facilitate client demand, as well as to add new offerings to our existing platform.

Paradigm, a Yale and Sequoia-backed crypto fund, and Pantera Capital, the first US-based crypto fund co-led the funding round. Paradigm has previously led financings in several prominent crypto companies including StarkWare, Tendermint and Uniswap. Pantera currently manages over $500mm across three strategies – passive, hedge, and venture.

“Our most successful investments have been when we’ve found companies doing something better than we can ourselves. Amber dramatically improved our electronic execution across a wide spectrum of assets. Once we came to know their tremendous team and full suite of secondary market services we chose to make a substantial investment and join the board.” said Dan Morehead, Founder and CEO of Pantera Capital.

Amber offers a wide range of crypto financial services including, but not limited to, electronic market making, treasury management, automated OTC trading, and collateralized lending. Example clients include exchanges, mining companies, mining pools, wallets, token issuers, high-net worth individuals and hedge funds. The funding comes following a year of tremendous growth for the firm across all business lines.

“The unique thing about crypto is that it is truly global from day one, with most of crypto trading occurring in Asia. With deep roots in Asia, Amber helps the whole world access this liquidity. Since our first investment nearly two years ago, Amber has grown to become one of the largest and most professional providers of liquidity and trading solutions in the global crypto markets. We are excited to continue supporting them alongside the other top funds and strategic partners in the round.” said Alex Pack, Co-Founder and Managing Partner of Dragonfly Capital.

“While the industry has come a long way, there is still plenty of work to do in order to meet the growing demands of clients in a fragmented market.” said Michael Wu, CEO of Amber Group. “We’re thrilled to partner with some of the world's leading investors and crypto companies to accelerate our mission of strengthening the crypto finance ecosystem.''