Samreen Ahmad · · 1 min readTiger Global, Sequoia back crypto firm’s $40m round
Babel Finance, a Singapore-headquartered crypto startup, has raised US$40 million from a clutch of investors including Tiger Global Management and Sequoia Capital China.
With the investment, the startup will innovate its offerings such as crypto lending, crypto prime financing, and crypto asset management.
Babel Finance is a global provider of crypto financial services, which it offers to institutional investors and high-net-worth individuals.
The startup recently announced a partnership with Paradigm, a zero-fee institutional liquidity network for derivatives traders.
In December 2021, the crypto firm also partnered with Chainalysis, a blockchain data platform. Chainalysis will provide Babel Finance with its Know Your Transaction and Reactor services. This will allow Babel Finance to have a real-time transaction monitoring solution that provides alerts to its compliance team.
Other investors in the US$40 million round include:
- Dragonfly Capital, an affiliate of Sequoia
- Bertelsmann, through its Asia-focused investment arm BAI Capital
- Zoo Capital
See also: Behind the crypto project backed by Temasek, JP Morgan, DBS
Editing by Collin Furtado and Lorenzo Kyle Subido
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