imToken, the blockchain tech startup and crypto wallet developer, introduced at this time it has raised $30 million in Series B funding led by Qiming Enterprise Companions. Contributors included returning investor IDG Capital, and new backers Breyer Capital, HashKey, Signum Capital, Longling Capital, SNZ and Liang Xinjun, the co-founder of Fosun Worldwide.
Based in 2016, the startup’s final funding announcement was for its $10 million Series A, led by IDG, in Could 2018. imToken says its wallet for Ethereum, Bitcoin and different cryptocurrencies now has 12 million customers and over $50 billion in property are at the moment saved on its platform, with whole transaction worth exceeding $500 billion.
The corporate was launched in Hangzhou, China, earlier than transferring to it present headquarters to Singapore, and about 70% of its customers are in mainland China, adopted by markets together with South Korea, america and Southeast Asia.
imToken will use its newest funding to construct features for “imToken 3.0.” This can embody keyless accounts, account restoration and and a collection of decentralized finance companies. It additionally plans to develop its analysis arm for blockchain expertise, known as imToken Labs and open places of work in additional nations. It at the moment has a crew of 78 individuals, based mostly in mainland China, america and Singapore, and expects to extend its headcount to 100 this yr.
In a press assertion, Qiming Enterprise Companions founding managing accomplice Duane Kuang stated, “Within the subsequent ten to twenty years, blockchain will revolutionize the monetary trade on a worldwide scale. We imagine that imToken is driving this pattern, and has strongly positioned itself out there.”
Source : TechCrunch