During the World Blockchain Conference, which took place in Singapore, Founder of Mars Finance, Wang Feng, announced that after calculating outside investments, the company’s value sits at approximately 330 million RMB (or $51.3 million).
In his speech, Feng stressed the importance of bringing together blockchain technology and financial systems in an attempt to
“create new and more powerful forces and put it into practice.” He also added that, “Mars Finance has quickly established itself and obtained a Series A round worth 150 million yuan in valuation and financing. Just now, we have completed the A+ round of investment, and the valuation after the investment is now 330 million.”
It has only been four months since the establishment of the Chinese blockchain-based news platform and within the first month of existence, Mars Finance closed its Series A funding round. The company that was sitting at a value of 150 million RMB ($23.4 million) managed to double its company value after the round. According to the claims made, several strong players were involved including the likes of IDG Capital, Fun City Capital and Future Cap to name the least.
In terms of the services provided by the news platform, there’s a variety, some of which include free access to hosting services for blockchain and crypto news and materials, blockchain-based communities and in-depth analyses on market segments.
Huobi Global Ecosystem Fund and Ceyvan Ventures’ involvement comes of no surprise, as the two companies share the same value: to invest in blockchain projects that make the blockchain market healthy. As for the former’s direct contribution, it is believed that Huobi Global Ecosystem will be giving Mars Finance with the necessary internal resources to help flourish its operations.