Babel Finance Attracts $80M at $2B Valuation

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Cryptofinance services provider Babel Finance has completed a $80 million Series B funding round, raising the company’s valuation to $2 billion.

The funding round has been led by Jeneration Capital and 10T Holdings. The fundraising has also seen the participation of Circle Ventures, a number of Southeast Asian family offices, and current shareholders Dragonfly Capital and BAI Capital.

Babel Finance’s main business lines are crypto lending and trading with a focus on serving institutional investors. The company has around 500 clients from among them.

At the end of last year, the company recorded a balance of over $3 billion in outstanding loans, and average monthly trading volume in crypto-based derivatives was $800 million.

According to the statement, Babel Finance limits operations to Bitcoin, Ethereum and stablecoins.

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