HONG KONG -- Hong Kong-based crypto financial-services startup Babel Finance has raised $40 million in a new funding round that marks the first crypto deal in Asia for several global investment firms, underscoring increasing investor appetite in the region for the fast-growing digital-currency market.
The series A fundraising was led by New York-based Tiger Global Management, Sequoia Capital China, Sequoia-affiliated Dragonfly Capital, German media conglomerate Bertelsmann and its Asia-focused investment arm BAI Capital, as well as Zoo Capital, the early-stage venture fund of Chinese private equity firm Boyu Capital.
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