Coinbase Raises $75M is Largest VC Investment into Bitcoin Startups
January 20, 2015
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Coinbase Raises $75M is Largest VC Investment into Bitcoin Startups

Popular wallet and online payment platform Coinbase has raised US$75 million in a series C funding round. Arriving on top of US$30 million raised in series’ A and B, the company is now having a total capital raised to $106 million !

The round was led by DFJ Growth, with participation from existing investors, including Andreessen Horowitz, Union Square Ventures, and Ribbit Capital. Investors included banks , New York Stock Exchange and NTT DoCoMo, Japan’s largest mobile telecommunications operator , apparently the first time any traditional financial institutions have taken direct stakes in a bitcoin enterprise.

The investment of US$75 million into the digital currency platform represents the single largest venture capital investment into a Bitcoin company, and more than doubles the previous largest round raised. This brings Bitcoin into a new ERA of investments making it very attractive for bigger investors that want to help Bitcoin economy to flourish .

Coinbase was first reported to be looking for this funding in November 2014, initially seeking a sum rumored to be around US$150 million, a figure which proved unattractive to investors at the time.

Uncofirmed reports from last year’s leak about the funding round indicated that venture capital fund DFJ Ventures was an interested party to the negotiations. Better known for investments in Skype, Twitter, Tumblr, and Tesla, the firm could bring further credibility to Coinbase, which has already announced to have a user base of 1.9 million individuals holding 2.1 million wallets with the service.

All this means an huge progress after the huge bubble burst that happened for Bitcoin at the end of 2014 . A lot of trust gaining and progress in Bitcoin industry for other startups and investors .

Steve

Steve

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