Blockchain financial and technical service provider Babel Finance closes Series Pre-A financing

Cryptocurrency financial services company Babel Finance announced the completion of the Pre-A round of financing from Dragonfly Capital and Parallel Ventures. The amount of the funding has not been disclosed.

Cryptocurrency financial services company Babel Finance announced the completion of the Pre-A round of financing from Dragonfly Capital and Parallel Ventures. The amount of the funding has not been disclosed.

Babel Finance is an operator of a financial services platform for cryptocurrencies designed to build the financial infrastructure of the crypto world. The company’s services offer crypto-backed loans, deposit services, financing, margin trading and other derivatives services, enabling clients to receive immediate funding based on the market value of their Bitcoin.

Zhu Diaozhou, a founding partner of Parallel Ventures, said that although the crypto asset trading market is still at a very early stage, lending and financial services are undoubtedly an integral part of the financial market. The emergence of Babel Finance has provided significant help for the expansion of the industry’s liquidity.

Babel Finance was founded by Yang Zhou and Wang Li in July 2018 and started to focus on the lending business in the crypto financial market. Investors include NGC, ZhenFund, Lightspeed Venture Partners, etc.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/06/blockchain-financial-and-technical-service-provider-babel-finance-closes-series-pre-a-financing/.

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