Fintech Crypto Finance AG raises $14.5M in Series B funding
Mon, 20 Apr 2020, 10:33 am UTC
Fintech Crypto Finance AG raises over $10 million in its recent round of funding.
Crypto Finance announced in a press release that it raises $14.5M from Big Name Swiss and Asia Pacific Investors for its Series B funding. The firm will use the funds to develop its professional crypto asset infrastructure, management, and trading services, CEO Jan Brzezek confirmed it on April 16.
Crypto Finance AG, is a holding company of Crypto Finance Group, which operates two further subsidiaries – Crypto Broker AG and Crypto Storage AG, the latter provides storage solutions and tokenization infrastructure.
The Series B funding round was led by Swiss investor Rainer-Marc Frey and major Beijing-based private equity fund Lingfeng Capital. Several existing and new investors across Europe and Asia also joined the round including Asian-based QBN Capital and PricewaterhouseCoopers.
“The robust financial regulatory field and vibrant crypto community attracted QBN to invest in Switzerland. Crypto Finance AG is one of the best in its ranks. Digital asset trading is here to stay, and we can learn from Swiss experience”, said Dr Frank Tong of QBN Capital (via Finextra).
“The team at Lingfeng is very impressed with the Crypto Finance AG management and operations. This opportunity brings us exposure to the promising crypto asset fintechs working within the regulatory framework and a partner with traditional finance sector experience. We look forward to building a bridge between Europe and Asia with Crypto Finance, and the convergence of traditional and digital asset classes,” added Dr. Ming Shu, Lingfeng Capital partner.
Meanwhile, India’s crypto exchange WazirX adds Binance USD (BUSD) on its platform making it the first exchange to do so in the country. Following the listing, the users can now deposit, withdraw, buy, sell and trade BUSD.
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