Babel Finance, a Hong Kong-based crypto financial-services startup, has raised US$40 million from a slew of global investors.

The investors include Tiger Global Management, Sequoia Capital China, Sequoia-affiliated Dragonfly Capital, Bertelsmann through its Asia-focused investment arm BAI Capital, and Zoo Capital.

With this investment, Babel Finance said that it will innovate its offerings which includes crypto lending, crypto prime financing, and crypto asset management.

Additionally, Babel Finance had used this financing round to build strategic external partnerships which includes an investment in Paradigm, an institutional liquidity network for derivatives traders.

The company has also acquired the services of blockchain data platform Chainalysis which offers offers cryptocurrency investigation and compliance solutions

This will allow Babel Finance to have a real-time transaction monitoring solution providing alerts to their compliance team.