- On Friday, Babel imposed a $1,500 per month withdrawal limit, citing "unusual liquidity pressures." Now, following an "emergency assessment" of operations, the company said short-term liquidity pressures have "eased."
- "We have actively communicated with shareholders and potential investors, and will continue to communicate and obtain liquidity support," the statement continued.
- At the end of 2021, Babel Finance had an outstanding loan balance of over $3 billion, up from $2 billion the previous February.
- The company just last month raised $80 million in a Series B last month at a valuation of $2 billion.
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