Babel Finance, a leading global crypto financial services company, announced the completion of its $ 40 million strategic Series A fundraising led by Zoo Capital, Sequoia Capital China, Dragonfly Capital, BAI Capital and Bertelsmann and Tiger Global Management, with subsequent participation from existing investors.
“The alliance with our new traditional finance investors is a critical step for us to offer more innovative products, strengthen compliance controls and ultimately offer a full suite of reliable services to meet the growing demand from mainstream investors. who want to add crypto assets to their portfolio, “said Flex Yang, CEO of Babel Finance.
The success of Babel Finance in gaining the recognition of global investors through this financing round is largely due to the rapid growth and resilient performance through the market cycles since its inception. In February 2021, Babel Finance served more than 500 institutional clients and its crypto lending business hit a staggering balance of $ 2 billion (in cryptocurrency). Combining financial innovation and prudent risk management, the company has grown to become one of the largest crypto derivatives players with a monthly trading volume of $ 8 billion.
“The aim of Babel Finance is to become a global powerhouse in the industry that corresponds in size and range to our counterpart DCG in the USA . Continuing last year’s momentum, Babel continues to grow through financing, investing, M&A and strategic partnerships with investors aligned with our vision, “said Del Wang , co-founder of Babel Finance.
This investment marks a debut in Asia’s crypto finance industry for Zoo Capital, BAI Capital and Tiger Global Management. It also signals a growing confidence and appreciation for the future development of the industry in the region.
“We are excited to partner with Babel Finance and this investment marks Zoo Capital’s first initiative in the crypto industry. I believe our global network and experience will be a valuable asset for Babel Finance to build a sophisticated gateway for the traditional market, “said Bowen Wang , Head of Crypto at Zoo Capital, Boyu’s only early-stage venture fund Capital.
“BAI is focused on investing in leading companies in emerging industries, and crypto finance is an important sector within our fintech coverage. Babel Finance is clearly an asset for us, as the strong market know-how, financial innovation and risk management show, “says Annabelle Long , founder and managing partner of BAI Capital. BAI Capital is the first VC investor of several Asian companies Fintech unicorns, including Linklogis, Lexin, and Yixin.
“Using the resources of our new investors, we will continue to invest heavily in compliance , technology infrastructure and talent acquisition , including channel partnerships and select M&As. With institutional involvement on the rise, Babel Finance is well positioned to bridge the Eastern and Western crypto markets by providing world-class crypto financial services, “said Yulong Liu , partner and head of Babel Finance’s global partnerships.
“Babel Finance has the ambitious goal of building a robust financial infrastructure for the crypto industry, which coincides with the evolving trend towards institutionalization of this industry. We are convinced of its potential to become a leading international company, “says Bo Feng , Managing Partner at Dragonfly Capital.
Founded in 2018, Babel Finance is one of the world’s largest crypto financial services providers, providing crypto loans, asset management and world class financing to institutions and skilled investors around the world.
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