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Institutional investors back Japanese bitcoin exchange with $4M

First Published 14th August 2015

Tokyo-based bitFlyer raises $4 million with institutional investor backing.

bitFlyer goes fundraising

bitFlyer goes fundraising

Exchange founded after collapse of Mt Gox

bitFlyer announced a fund raising round of some JPY 510 million ($4.1mn) through third-party allotment. The transaction includes participation from Mitsubishi UFJ Capital, Dentsu Digital Holdings, QUICK, Mitsui Sumitomo Insurance Venture Capital, Venture Labo Investment, and their respective funds.

Since previous funding closed in January, bitFlyer has implemented many new services including bitFlyer Lightning, a Bitcoin Exchange designed for professionals, chainFlyer, a website that provides a visualisation of the blockchain, an Android application bitFlyer for Android, adFlyer, an advertisement service built on Bitcoin, and has introduced the latest in Bitcoin Multi-Sig security.

bitFlyer will use the latest funding round to build a more robust security environment to trade bitcoin, establish a firm management foundation with increased capital, and maintain a solid management system.

In addition, bitFlyer will take advantage of synergies available with each investment organisation, and will continue to promote customer base expansion, strengthen revenues, and expand global business development.

Read more at BNC

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