Sequoia and Tiger Global invest $40m in China’s Babel as part of its push into crypto
- Date: 11-May-2021
- Source: The National
- Sector:Economy
- Country:Middle East
Sequoia and Tiger Global invest $40m in China’s Babel as part of its push into crypto
Babel Finance, a Chinese start-up offering financial services to cryptocurrency clients, raised $40 million from investors including Sequoia Capital China and Tiger Global, the latest in a spate of venture capital deals fueled by Bitcoin’s rally.
The early stage fundraising is led by Zoo Capital, Sequoia Capital China and Dragonfly Capital and joined by Tiger Global and BAI Capital, the firm said on Monday, without disclosing its valuation. Its new backers will help Babel expand across Asia, North America and Europe, the start-up added.
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