imToken Announces US$30 million Sequence B Financial investment

SINGAPORE–(Small business WIRE)–imToken, a planet-class blockchain technologies enterprise best acknowledged for its protected decentralized electronic wallet, nowadays introduced the completion of a US$30 million Collection B funding led by Qiming Enterprise Associates, with participation from its guide Series A investor IDG Funds and new buyers such as Breyer Cash, HashKey, Signum Funds, Longling Cash, SNZ and co-founder of Fosun Global, Mr. LIANG, Xinjun.

imToken was established in 2016 to tackle a absence of consumer-pleasant entry points to the cryptocurrency area. In line with its perception that digital asset wallets are the most protected and price tag-efficient way of banking, the business set out to make the earth of decentralized digital wallets more very easily and securely accessible by building a wallet platform with unparalleled simplicity-of-use and marketplace primary system safety. Now, imToken’s electronic wallet platform is a key pillar of the cryptocurrency ecosystem, enabling its 12 million customers from over 150 nations to control and safeguard a vast selection of blockchain- and token-based belongings, identities and knowledge. More than US$50 billion in assets are at the moment put on the system and the total transaction price by way of imToken has exceeded US$500 billion.

With this financial investment, imToken intends to speed up the progress of its future iteration, imToken 3., and accomplish its lengthy-time period intention of building blockchain accessible to the masses. With imToken 3., imToken intends to fundamentally enhance the way consumers interact with blockchain providers by utilizing keyless accounts, account recovery and other features that help users to very easily and securely entry a wide variety of blockchain networks and applications. Outside of its totally free non-custodial wallets, imToken also plans to deliver safe and effortless accessibility to a suite of decentralized finance (DeFi) providers in imToken 3., a leap to the centralized electronic wallet. The company’s target is to more reduce the entry barrier for cryptocurrency newcomers by setting up up a sturdy ecosystem of interconnected merchandise that makes a vast vary of blockchain services extra available and less complicated to handle.

In addition, the recently lifted funds will be invested in creating a investigate arm identified as imToken Labs, with the aim of even more checking out and applying sophisticated blockchain technology in imToken’s products and solutions and expert services. It will also be used to bolster imToken’s recruiting efforts in the spots of exploration, marketing and advertising and operations, and to build a lot more workplaces globally.

“We are thrilled to be partnering with these types of a savvy and professional group of buyers from both inside of and outside of the crypto place,” explained He Bin, CEO and Founder of imToken. “Beginning with our inception five years in the past, we regarded the big probable of blockchain technological know-how – as well as the challenges faced by the sector with regards to a need for enhanced user experiences, safe essential management and scalable network. With our investors’ assist, we are nicely positioned to deal with these problems and develop our platform over and above our wallets – bringing our trademark focus on simplicity-of-use to a extensive selection of decentralized solutions with a intention of serving around 100 million buyers in the subsequent 5 many years.”

imToken has taken significant strides to grow the broader decentralized ecosystem, together with establishing imToken Ventures in 2018 to make investments in businesses related to the digital wallet ecosystem. A single of imToken’s incubated assignments, a decentralized trade known as Tokenlon, has now facilitated in excess of US$10 billion in complete buying and selling volume. imKey, imToken’s hardware wallet, permits its users to easily handle well-known digital belongings on their mobile equipment by means of Bluetooth.

Duane Kuang, Founding Controlling Spouse of Qiming Venture Companions, said, “Qiming Undertaking Partners generally endeavours to comply with enormous traits and capture massive alternatives. In the next ten to 20 several years, blockchain will revolutionize the fiscal marketplace on a worldwide scale. We consider that imToken is riding this pattern, and has strongly positioned by itself in the market the staff is extremely targeted, often hunting to create sound solutions. We search ahead to adventuring into the new period with imToken.”

“imToken has now founded by itself as one particular of the most significant players in the electronic asset custody room,” reported Jim Breyer, Founder and CEO of Breyer Cash. “Now, we believe there is a major chance for the corporation to leverage its potent model fairness and potent user network to increase into new, adjacent markets—and we are psyched to support them know that possibility.”

“We have had our eye on imToken due to the fact the early times of our involvement in the crypto house, and we have been extremely impressed with what they’ve achieved to-date,” claimed Guo Yihong, Partner at IDG Capital. “We think a great deal of their success can be attributed to their disciplined aim on consumer encounter and relieve-of-use, and we appear ahead to helping them utilize that same emphasis to a vast selection of products and services beyond their core wallet offerings.”

About imToken

imToken is a decentralized electronic wallet made use of to manage and safeguard a vast variety of blockchain- and token-based mostly assets, identities and facts. Due to the fact its founding in 2016, it has served its buyers transact and exchange billions of bucks in worth throughout extra than 150 countries all over the entire world. imToken permits its customers to manage assets on 12 mainstream blockchains, as properly as seamlessly link with DApps via a decentralized applications browser.

About Qiming Venture Companions

Started in 2006, Qiming Venture Associates is a main China enterprise capital agency with offices in Shanghai, Beijing, Suzhou, Shenzhen, Hong Kong, Seattle, Boston and the San Francisco Bay Space.

At present Qiming Venture Partners manages nine US Dollar money and 6 RMB funds with $5.9 billion in belongings below management. Since our institution, we have invested in excellent organizations in the TMT and healthcare industries at the early and advancement levels.

Given that our debut, we have backed around 380 speedy-expanding and progressive companies. Around 130 organizations are now outlined on NYSE, NASDAQ, HKEx, Gretai Securities Marketplace, Shanghai Stock Exchange and Shenzhen Inventory Trade, or reached exit through M&A and other signifies. There are also above 40 portfolio companies that have achieved unicorn position. For additional information, please take a look at: https://www.qimingvc.com/en

About Breyer Money

Breyer Funds is a venture money business dependent in Menlo Park, CA, and Austin, TX. Jim Breyer, Breyer Capital’s founder/CEO, has been an early trader in above 40 technologies businesses that have done really successful general public choices or mergers together with Fb, Etsy, and Spotify. Breyer Capital has been investing in blockchain and cryptocurrency considering that leading Circle’s Sequence A round in 2013. For more information, be sure to go to http://www.breyercapital.com.

About IDG Funds

Launched in 1992, IDG Capital is a foremost expense company with in excess of US$20 billion in AUM, centered on acquiring remarkable businesses by know-how in personal equity and venture funds, as very well as genuine estate. IDG Funds is the initially agency to deliver foreign venture cash into China.

IDG Funds provides a potent combination of world-wide point of view and community knowledge to financial investment administration. As very long-term benefit buyers, IDG Cash is extremely proficient at mobilizing world wide assets to deal with community needs, in particular for Inbound and outbound alternatives in China and the rest of Asia. Its highly qualified team has an in-depth comprehending of the Chinese current market and enjoys shut interactions with lots of influential enterprise leaders.