imToken, the blockchain tech startup and crypto pockets developer, introduced at this time it has raised $30 million in Series B funding led by Qiming Venture Partners. Participants included returning investor IDG Capital, and new backers Breyer Capital, HashKey, Signum Capital, Longling Capital, SNZ and Liang Xinjun, the co-founder of Fosun International.
Founded in 2016, the startup’s final funding announcement was for its $10 million Series A, led by IDG, in May 2018. imToken says its pockets for Ethereum, Bitcoin and different cryptocurrencies now has 12 million customers and over $50 billion in property are at present saved on its platform, with complete transaction worth exceeding $500 billion.
The firm 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, the United States and Southeast Asia.
imToken will use its newest funding to construct options for “imToken 3.0.” This will embrace keyless accounts, account restoration and and a set of decentralized finance companies. It additionally plans to broaden its analysis arm for blockchain know-how, known as imToken Labs and open places of work in additional international locations. It at present has a staff of 78 individuals, based mostly in mainland China, the United States and Singapore, and expects to extend its headcount to 100 this 12 months.
In a press assertion, Qiming Venture Partners founding managing accomplice Duane Kuang stated, “In the next ten to twenty years, blockchain will revolutionize the financial industry on a global scale. We believe that imToken is riding this trend, and has strongly positioned itself in the market.”