Crypto financial service provider Babel Finance today announced the completion of its $40 million Series A financing. This round of financing was led by Zoo Capital, Sequoia Capital China, Dragonfly Capital, BAI Capital, Bertelsmann and Tiger Global Management. Follow-up participation of existing investors.

As of February 2021, Babel Finance reports that it has provided services to more than 500 customers; its crypto lending business has reached an outstanding balance of US$2 billion. This investment marks the debut of Zoo Capital, BAI Capital and Tiger Global Management in the Asian crypto financial industry.

“Continuing the momentum of last year, The growth of the Tower of Babel Financing, investment, mergers and acquisitions and strategic partnerships with investors in line with our vision will further drive this growth. “
–Wang De, co-founder of Babel Finance

Looking to the future, Babel Finance is committed to providing encrypted financial products in accordance with their respective compliance systems. In order to better meet institutional requirements, the company has invested a lot of resources to achieve global compliance, including applying for relevant licenses in North America, Europe and Asia.

“We are very happy to cooperate with Babel Finance. This investment marks Zoo Capital’s first move in the crypto industry. I believe that our global network and experience will provide Babel Finance with valuable support to build a comprehensive portal for the traditional market. .”
– Wang Baowen, Head of Encryption, Zoo Capital