Babel Finance Closes US$80M Series B Funding
- Babel Finance, a Hong Kong-based wholesale crypto financial services provider, raised US$80M in Series B funding at a valuation of US$2 billion
- Backers included Jeneration Capital, 10T Holdings, Dragonfly Capital, BAI Capital, Circle Ventures, and a number of family offices in the Asia-Pacific region
- The company intends to use the funds to expand operations and its business reach
- The company limits its business to BTC, ETH and stablecoins, and serves a select clientele of about 500 customers
- BabelFinance had an outstanding loan balance of more than US$3 billion, an average monthly trading volume of US$800 millionin derivatives
- Since the US$40 million Series A funding in May 2021, BabelFinance’s team has grown from around 50 people to over 170 currently
