Babel Finance closes US$80 million Series B fundraising round at US$2 billion valuation
Babel Finance closes US$80 million Series B fundraising round at US$2 billion valuation The latest funding round propels Babel Finance into the ranks of the world's most valuable crypto financial services companies in the institutional services sector HONG KONG, May 25, 2022 /PRNewswire/ -- Babel Finance, the world's leading wholesale crypto financial services provider, announced the completion of a US$80 million Series B financing round at a valuation of US$2 billion. Babel Finance is one of the largest service providers to institutions in the crypto financial markets.
The company's major businesses are crypto lending and trading, with a focus on serving institutional clients, including crypto-native institutions, traditional financial institutions such as banks and investment funds, as well as ultra-high-net-worth accredited investors and family offices. "The crypto financial market is full of opportunities and hidden risks. "As the crypto financial industry becomes more institutionalized, our mission at Babel Finance is to explore and participate in the building of the fundamental financial order and rules for the industry," added Wang. Commenting on the decision to invest in Babel Finance's Series B financing round, Jason Tan, Partner and Chief Investment Officer of Jeneration Capital, said: "The institutional investor market is in its early stages of participating in the crypto asset class.
"Babel Finance has opened up a market with high barriers to entry and great value in the emerging field of institutional investor services in crypto," said 10T CEO and Managing Partner Dan Tapiero. "Babel Finance is in the right place at the right time with the right products, serving the groundswell of demand from institutional investors and family offices for sophisticated digital asset products and services," said William Zhao, Partner of BAI Capital. Since the firm's US$40 million Series A funding in May 2021, Babel Finance's team has grown from around 50 people to over 170 currently. Babel Finance is a leader in the crypto financial institutional investor services market, dedicated to providing institutional investors and ultra-high-net-worth accredited investors with professional services and customized solutions in crypto asset lending and trading.
Read full article at The Korea Herald