imToken, the blockchain tech startup and crypto wallet developer, launched this present day it has raised $30 million in Sequence B funding led by Qiming Conducting Companions. Contributors incorporated returning investor IDG Capital, and unusual backers Breyer Capital, HashKey, Signum Capital, Longling Capital, SNZ and Liang Xinjun, the co-founding father of Fosun Global.
Founded in 2016, the startup’s final funding announcement used to be for its $10 million Sequence A, led by IDG, in Would maybe perhaps also 2018. imToken says its wallet for Ethereum, Bitcoin and diversified cryptocurrencies now has 12 million users and over $50 billion in resources are currently saved on its platform, with total transaction cost exceeding $500 billion.
The company used to be launched in Hangzhou, China, sooner than involving to it contemporary headquarters to Singapore, and about 70% of its users are in mainland China, followed by markets alongside with South Korea, the united states and Southeast Asia.
imToken will exhaust its latest funding to construct aspects for “imToken 3.0.” This may perhaps perhaps encompass keyless accounts, legend restoration and and a assortment of decentralized finance providers. It also plans to expand its compare arm for blockchain technology, called imToken Labs and start locations of work in more countries. It currently has a gaggle of 78 folks, essentially based totally in mainland China, the united states and Singapore, and expects to amplify its headcount to 100 this yr.
In a press observation, Qiming Conducting Companions founding managing partner Duane Kuang acknowledged, “Within the next ten to twenty years, blockchain will revolutionize the financial industry on a world scale. We deem that imToken is utilizing this trend, and has strongly positioned itself in the market.”