Japanese Bitcoin Exchange bitFlyer Raises $27 Million in Series C Funding

Crazy Review : Japanese Bitcoin exchange bitFlyer hopes to fill the gap in Bitcoin trading after the collapse of MT.GOX, and has started multiple rounds of financing since last year. Investors include Dentsu Digital Holdings, Mitsubishi UFJ Capital Co, Mitsui Sumitomo Insurance Venture Capital Co and Venture Labo. This year's C round of financing was led by Venture Labo Investment and SBI Investment, raising $2.7 million; bringing the total amount of five rounds of financing so far to $34 million.

Translation: Annie_Xu

Japanese bitcoin exchange bitFlyer has raised 3 billion yen ($2.7 million) in its Series C funding round, led by Venture Labo Investment and SBI Investment, the venture capital arm of SBI Group.

The funding is part of a 510 million yen ($4 million) round that bitFlyer raised in August last year from investors including Dentsu Digital Holdings, Mitsubishi UFJ Capital Co, Mitsui Sumitomo Insurance Venture Capital Co and Venture Labo.

Yuzo Kano, CEO of bitFlyer, noted that the funds raised will be used to expand the exchange’s current team of 23 people; currently the exchange is only located in Tokyo and Luxembourg. The fundraising is based on bitFlyer’s extensive focus on Bitcoin trading and blockchain applications.

“Investors will evaluate our technological advantages; we are almost the only company focusing on both cryptocurrency and blockchain.”

Yuzo Kano

Kano said:

bitFlyer’s bank investors are primarily interested in blockchain technology; in addition to digital currency trading, the company also has “various Internet finance-related resources,” which are also of interest to investors.

According to the exchange, bitFlyer’s total Bitcoin and Japanese Yen trading volume in the past 24 hours reached $8.8 million; this figure far exceeds that of its competitors BTCBOX and Zaif.

This round of financing brings bitFlyer’s total financing amount in five rounds to US$34 million.

Translation: Annie_Xu

Japanese bitcoin exchange bitFlyer has raised 3 billion yen ($2.7 million) in its Series C funding round, led by Venture Labo Investment and SBI Investment, the venture capital arm of SBI Group.

The funding is part of a 510 million yen ($4 million) round that bitFlyer raised in August last year from investors including Dentsu Digital Holdings, Mitsubishi UFJ Capital Co, Mitsui Sumitomo Insurance Venture Capital Co and Venture Labo.

Yuzo Kano, CEO of bitFlyer, noted that the funds raised will be used to expand the exchange’s current team of 23 people; currently the exchange is only located in Tokyo and Luxembourg. The fundraising is based on bitFlyer’s extensive focus on Bitcoin trading and blockchain applications.

“Investors will evaluate our technological advantages; we are almost the only company focusing on both cryptocurrency and blockchain.”

Yuzo Kano

Kano said:

bitFlyer’s bank investors are primarily interested in blockchain technology; in addition to digital currency trading, the company also has “various Internet finance-related resources,” which are also of interest to investors.

According to the exchange, bitFlyer’s total Bitcoin and Japanese Yen trading volume in the past 24 hours reached $8.8 million; this figure far exceeds that of its competitors BTCBOX and Zaif.

This round of financing brings bitFlyer’s total financing amount in five rounds to US$34 million.