The world's first blockchain-based micro investment app
Amber is a cryptocurrency exchange, wallet, and a payment app that help users swaps the spare change from their daily transactions into Bitcoin automatically. Thc company stated that its mission is to create a way for the average person to participate in crypto economy without risking lots of money and having to set up 5 different accounts in 10 different apps. Amber is designed to be an all in one platform, with simple and seamless operation, in order to lower the barrier to entry for the average person.
According to Crunchbase, Amber is a next-generation digital asset exchange, wallet & micro-investment app. The goal of the app is to make exposure to Bitcoin & the new class of digital assets as simple, low risk & automated as possible. It do this by using the users’ habit of spending all the time and transforming it into an ‘option’ for the future. Amber use the spare change from users’ daily purchases into asset classes with extraordinary upside. The company claims that Amber is the first product to successfully combine the functions of exchange & key features of a Bitcoin wallet, into one micro-investment style app. It also supports layer 2 technologies such as the Lightning Network which will allows Amber to offer a way to participate in commerce globally, instantly, without any fees.
The company has raised a total of A$1.3M in 3 funding rounds. The latest funding round was finished on August 31, 2019, from a seed investment round. According to its website, Amber is backed by Morgan Creek Capital Management, QUT Bluebox, and Fulgur Ventures.