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Babel Finance Appoints Edmond Lau as CFO Following $40 Million Series A Funding prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
After a $3B exit, a biopharma veteran unveils a new company and a global focus medcitynews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from medcitynews.com Daily Mail and Mail on Sunday newspapers.
Babel is one of a crop of fledging crypto ventures taking advantage of the boom in digital assets to build up their war chests. Bitcoin took off in October, hitting an all-time high of $64,870 in April before paring some gains in recent weeks. In just the last two months, Tiger Global has invested $25m into CoinSwitch Kuber, a Bangalore-based exchange that’s also backed by Sequoia Capital India, while crypto-wallet app maker imToken raised $30m from investors including Qiming Venture Partners and Breyer Capital. “Bitcoin was some sort of alt asset for a long time,” Babel founder Flex Yang said in a Zoom call from Beijing. “But now that it has a $1 trillion market cap, people will think of it properly as a new asset class. ....
From geek-only to institutional, cryptocurrencies are becoming mainstream. Babel Finance, a Hong Kong-based crypto financial services firm, has just raised US$40mil from Sequoia Capital China and Tiger Global Management. SCMP Officially banned in China in 2017, bitcoin and other cryptocurrencies are now making their way to mainstream acceptance with the help of Chinese-run start-up Babel Finance. “Education [of investors on bitcoin] isn’t necessary any more,” said Flex Yang, founder and CEO of the Hong Kong-based cryptocurrency financial services firm, in an interview with the South China Morning Post. “The crypto market has evolved from geek-only to institutional and professional.” ....
Crypto asset manager Babel raises $40M from Tiger Global, Bertelsmann and others Three years after its inception, crypto financial service provider Babel Finance is racking up fundings and partnerships from major institutional investors. The startup said Monday that it has closed a $40 million Series A round, with lead investors including Zoo Capital, Sequoia Capital China, Dragonfly Capital, Bertelsmann and its Asian fund BAI Capital, and Tiger Global Management. For years, traditional investors were reluctant to join the cryptocurrency fray. But in 2020, Babel noticed that many institutions and high net worth individuals began to consider crypto assets as an investment class. ....