Bitget announced today that it has officially completed $10 million USD in Series-B financing backed by Anlan Capital growth fund as well as South Korea-listed Japanese gaming company SNK, raising its valuation to USD $1 billion. Previously in 2018, Bitget received its Series-A funding of an initial $10 million USD by leading Block-chain investment fund Consensus Labs and Collinstar Capital.
Backed by shareholders with extensive early-stage start-up expertise and tech companies such as DST, K2VC, Matrix Partners China, and NetEase, Anlan Capital is China's largest global growth fund. With a controlling stake in Hong Kong Qingshi Securities and a focus on investments in TMT, internet finance, artificial intelligence and big data, Anlan selectively invests in top-echelon growth start-ups. At present, Anlan's portfolio includes the likes of many familiar tech giants such as Alibaba, Meituan Dianping, Pinduoduo, Tencent Music and NIO.
Osaka-based SNK games serve as the lead investment company for Bitget's Series-B investment round. With a recent IPO listing on KOSDAQ South Korea, SNK has set the highest market value of a foreign listed company in Korean history. Since its inception in 1978, SNK needs little introduction as a pioneer in video games with a wide background in arcade gaming consoles like the Neo Geo and titles such as the King of Fighters.
This round of financing demonstrates investor and market confidence in Bitget's brand value as well as development potential. To this end, Bitget mentioned that it will use these funds for product innovation and high-growth expansion into the global market. In addition, product development is also a core focus of the exchange, with funds allocated to improving user services, subsidise new user sign-up and trading bonuses as well as cultivate quality partner-affiliates.
21 Jul 2020
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