imToken, the blockchain tech startup and crypto pockets developer, introduced immediately it has raised $30 million in Collection B funding led by Qiming Enterprise Companions. Contributors 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 Collection 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 present 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, the USA and Southeast Asia.
imToken will use its newest funding to construct options for “imToken three.zero.” This may embody keyless accounts, account restoration and and a set of decentralized finance companies. It additionally plans to increase its analysis arm for blockchain know-how, referred to as imToken Labs and open places of work in additional nations. It at present has a workforce of 78 folks, primarily based in mainland China, the USA and Singapore, and expects to extend its headcount to 100 this yr.
In a press assertion, Qiming Enterprise Companions founding managing associate Duane Kuang stated, “Within the subsequent ten to twenty years, blockchain will revolutionize the monetary business on a worldwide scale. We consider that imToken is using this development, and has strongly positioned itself available in the market.”