China’s Qiming Leads $30 Million Investment in Crypto Wallet
(Bloomberg) -- ImToken, a Chinese startup that built one of the most used cryptocurrency wallet apps, has raised $30 million from investors including Qiming Venture Partners and Breyer Capital.
- The Series B financing round, led by Qiming, also saw participation from venture firms like HashKey, Signum Capital, Longling Capital and existing backer IDG Capital, the startup said on Wednesday.
- Started in 2016, imToken has 12 million users, who’ve used the platform to stash over $50 billion in crypto assets like Bitcoin and Ether.
- The company -- which has generated positive cash flow since late 2020 -- plans to grow users to 100 million in five years, and will use the proceeds in R&D, marketing and operations, said founder Ben He.
- In 2018, IDG led a $10 million Series A investment in He’s outfit.
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