Crypto finance provider and investing startup Amber Group is in discussions to raise fresh funding at a valuation of US$10 billion, according to the people familiar with the matter.
With its latest funding round led by Temasek Holdings in February, Amber Group has already reached a $3 billion valuation. Now, it is mulling a fresh round of funding to see the company at a valuation of $10 billion.
Amber Group’s current shareholders also include Sequoia China, Tru Arrow Partners, Coinbase Ventures, Tiger Global Management, and Pantera Capital. All these investment partners have contributed to the $200 million Series B+ February’s fundraise.
The startup now seeks its fourth funding round amid the market slump. Reportedly, Amber held a Series A round for $28 million in February 2020, followed by a $100 million Series B round in June 2021. Finally, a $200 million round in February this year.
The firm Amber Group, founded in 2018 by five former Morgan Stanley traders, operates in 150 countries and has over $5 billion in assets on the platform. According to its website, it has more than $1 trillion in traded volume.
