ImToken, the blockchain tech startup and crypto pockets developer, introduced as we speak it has raised $30 million in Sequence B funding led by Qiming Enterprise Companions. Individuals 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 Sequence A, led by IDG, in Might 2018. ImToken says its pockets for Ethereum, Bitcoin and different cryptocurrencies now has 12 million customers, and over $50 billion in belongings are at the moment saved on its platform, with complete transaction worth exceeding $500 billion.
The corporate was launched in Hangzhou, China, earlier than shifting 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 options for “imToken 3.0.” It will embody keyless accounts, account restoration and a set of decentralized finance providers. It additionally plans to develop its analysis arm for blockchain know-how, known as imToken Labs and open places of work in additional nations. It at the moment has a staff 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 mentioned, “Within the subsequent ten to twenty years, blockchain will revolutionize the monetary trade on a world scale. We consider that imToken is driving this pattern, and has strongly positioned itself available in the market.”