Swiss holding company Crypro Finance AG has closed a CHF 14 million Series B funding round led by renowned Swiss investor Rainer-Marc Frey and the Asian-based private equity fund Lingfeng Capital.
A number of existing and new investors joined from across Europe and Asia, including Asian-based QBN Capital.
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Crypto Finance AG engaged PricewaterhouseCoopers to introduce investors with the right strategic focus and expertise for this Asia Pacific funding round.
With this new capital, the total funding raised for Crypto Finance is CHF 36 million. The Crypto Finance Group continues to grow despite the current challenges posed by Covid-19.
“I am excited to share our Series B funding news. It lets us continue with our vision and strategy to provide market-leading, professional crypto asset management, trading, and infrastructure,” said Jan Brzezek, CEO and Founder of Crypto Finance AG.
“The robust financial regulatory field and vibrant crypto community attracted QBN to invest in Switzerland. Crypto Finance AG is one of the best in its ranks. Digital asset trading is here to stay, and we can learn from Swiss experience,” Dr Frank Tong of QBN Capital, said.
“We look forward to building a bridge between Europe and Asia with Crypto Finance, and the convergence of traditional and digital asset classes,” Dr Ming Shu, Lingfeng Capital, notes.
With just over 50% of overall Group business linked to international clients, Crypto Finance will commit the new funding to continued international expansion and product and service development.
New Board member
Brzezek and the Board of Directors at Crypto Finance AG also announced that Dr Ming Shu, Partner with Lingfeng Capital, will be proposed as a new member of the Board of Directors at the Annual General Assembly.
Dr Shu has a deep regulatory and industry network and extensive operational experience with multinational financial institutions, including both Henderson Global Investors and Alibaba. Lingfeng Capital brings a strong added value to European fintechs expanding into Asia.