Hong Kong based Babel Finance Secures $40 Million for Crypto Finance Services

Crypto Finance Babel

Babel Finance, a crypto finance services provider, raised $40 Million in a Series A funding round. 

Founded in 2018, Hong Kong headquartered cryptocurrency financial institution, Babel Finance offers crypto finance services such as Crypto Lending and Borrowing and Crypto Asset Management to individuals and institutional clients.

The crypto services company has already served more than 500 institutional clients. The crypto fintech company's lending business has reached a balance of US$2 billion valued in cryptocurrency, notes the announcement. Babel finance is one of the largest crypto derivative players with a monthly trading volume of US$8 billion.

Executive Opinion

CEO of Babel Finance, Flex Yang, said, "The alliance with our new investors from traditional finance is a critical step for us to offer more innovative products, strengthen compliance controls, and ultimately provide a full suite of reliable services to meet the growing demand from mainstream investors who are keen to add crypto assets in their portfolio."

Head of Crypto at Zoo Capital, the only early-stage venture fund of Boyu Capital, Bowen Wang, said, "We are pleased 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 provide valuable support for Babel Finance to build a sophisticated gateway for the traditional market." 

Babel Finance's Lastest Funding

The Zoo Capital, Sequoia Capital China, Dragonfly Capital, BAI Capital, and Bertelsmann, and Tiger Global Management led the latest funding round. Existing investors also participated in the new funding round.

The crypto finance startup intends to invest newly raised funds in compliance, technology infrastructure, and talent acquisition, including channel partnerships and selected mergers & acquisitions (M&A), notes the announcement.

Babel Finance also intends to expand globally with selected investors experienced in global compliance and with extensive business networks. The crypto finance company also plans to serve mainstream investors.
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Mandar is a seasoned software professional for more than a decade. He is Cloud, AI, IoT, Blockchain and Fintech enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about the Cloud, AI, IoT, Blockchain and Fintech and the effects they will have economically and socially in the future.

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