Blockchain portal BTC123 received tens of millions of yuan in Series A financing, led by Guangzhao Capital

On December 28, blockchain portal BTC123 officially announced the news of its Series A financing. BTC123 received a 10 million yuan investment led by Illumination Capital, with a valuation of 100 million yuan in this round.

Founded in 2011, BTC123 Bitcoin portal is one of the first platforms in the digital currency industry in China, and has made great contributions to the popularization of digital currencies such as Bitcoin in China. As an industry portal, it provides professional and comprehensive data display for tens of millions of digital currency enthusiasts.

This year, BTC123 released a mobile client, moving from a single navigation website to today's diversified development, and further moving towards digital currency basic services. "One-stop service for digital assets" was the purpose of BTC123 when it was founded, and BTC123 has been constantly adjusting and improving in this direction. Since its founding, it has added practical tools such as global digital currency exchange platforms, mining-related, wallet tools, and financial derivatives, and is committed to popularizing blockchain technology, and conducts offline promotions from time to time.

BTC123's current CEO, Zhang Songhao, is a true post-90s generation. He has participated in the development and design of many games since junior high school. He also led the development of the BTC123 mobile client, which has received unanimous praise since its launch. In 2014, he was attracted by Bitcoin and joined the BTC123 team. In 2016, he took over BTC123 and re-established the image of the first navigation in the Bitcoin industry.

Talking about the development after financing, Zhang Songhao said:

“In the future, we will strive to improve the fluency of BTC123 services, the comprehensiveness of information, and the professionalism of information, so that more people can have a positive understanding of emerging financial technologies such as blockchain and Bitcoin.

At the same time, we will also carry out various offline activities and actively develop offline resources to create a good communication and sharing environment for blockchain entrepreneurs, investors, enthusiasts and some friends who speculate in cryptocurrencies.”

It is reported that Guangzhao Capital does not participate in the daily management of BTC123. BTC123 has changed from being controlled by investors to being controlled by the BTC123 team. The original shareholder Mr. Guo Hongcai and related personnel will no longer control BTC123.

As the lead investor, Illumination Capital invested RMB 5 million in this round of investment. According to the official introduction, Illumination Capital was established in May 2014 and has offices in Hong Kong, Shenzhen and Xi'an. The first phase of the fund invested in 18 technology companies at home and abroad, and several of the invested companies have become industry leaders. The second phase of Illumination focuses on big data technology, artificial intelligence, and blockchain smart contracts. The fund partner team is composed of pioneers in the technology industry and senior practitioners in the capital market, and is professionally focused on the ecological construction of vertical fields.

Talking about the reason for investing in BTC123, Alex Yang, partner of Illuminating Capital, said: Illuminating Capital has been paying attention to the blockchain sector and the Bitcoin community. As the information and traffic portal of the blockchain, BTC123 is the only choice for investment. At present, the attention to the blockchain sector at home and abroad has become a trend, and we hope to make a layout as soon as possible.

At the same time, Alex also told reporters that in addition to investing in BTC123, Guangzhao Capital has also reached a cooperation with the Blockchain Research Institute under the Big Data Innovation Center of South China University of Technology. The institute was initiated by industry representatives such as China Bitcoin. Guangzhao Capital hopes to work with industry elites to attract talents, cultivate soil, and deepen its presence in the blockchain field.

"In the later stage, BTC123 will consider allowing more users to participate in the ecological construction of the website and even the entire industry." Zhang Songhao told reporters.