Circle Internet Financial Secures $17 Million Series B Financing.


Circle Internet Financial Secures $17 Million Series B Financing.

A digital currency company by the name of Circle Internet Financial, has announced today that it has secured over $17 million in Series B financing, bring its total amount to day up to $26 million.


Accel Partner, General Catalyst Partners and Breyer Capital were joined b new investors Oak Investment Partners to lead this round. Other to join in on the Series B investment included Pantera Captial, the Bitcoin Opportunity Fund of Barry Silbert, SecondMarket’s own founder and chief executive officer and the founder of Bitcoin Invesment Trust, Leonard H. Schrank, former chief executive officer for SWIFT, and A board member for Circle M.Michele Burns. Fenway Summer, a leading consumer finance advisory and venture firm which was lead by Circle board member Raj Date, were also investors during the Series B financing.

The Announcement.

Circle has also decided to announce today, the debut for its initial consumer product but with a limited release, which will only be made available for a selected few users ahead of the company’s general availability launch later this year.

“We are thrilled to have such a strong showing of support and vote of confidence from world-class investors and strategic individuals as we move into the commercial phase of Circle,” said Jeremy Allaire, Circle founder, chairman and chief executive officer. “With accelerating consumer and business interest in digital currency all around the world, it’s critical that we have the capital and leadership team to execute on our vision for consumer finance and global payments built on Bitcoin.”

“Circle has continued to make tremendous progress in helping to shape and define the digital currency industry, and I am excited to be continuing to invest in and partner with Jeremy and the Circle team,” said Jim Breyer, founder and chief executive officer of Breyer Capital. “The global transformation in payments made possible by Bitcoin and digital currency is one of the most significant investment opportunities in the past 30 years.”

Secure and Commitment.

Circle is one of the first companies to be created from the ground up and provides with financial products for consumers to utilize the power behind Bitcoin to enable much faster transactions, cheaper cost, improved private security and increased protection against fraud and identity theft while enabling more smooth and slick global economic activity and cross-border transaction. The company’s imminent products, which have entered in a limited availability for release, promising to enable consumer and businesses to utilize the digital currency easily, reducing much of the frictions and resk that are currently associated with Bitcoins.

As part of its commitment to insure safety, Circle has come in contact with governments, regulators, and the commercial banking industry as it continues to fulfill the promise of international virtual currency. The company is focused on creating services that mainstream consumers and businesses can rely upon that are audited and examined by a government in roder to assure businesses are held to stringent requirements around consumer protection and criminals and hoaxers are thwarted from abusing the virtual currency platform.

Read Next: Failed Mt.Gox Exchange Finds 200000 Bitcoins in “forgotten” Wallet.


About Author

Kevin is passionate about startups and loves to write about them. Previously Kevin ran a design studio. Now he loves to write about tech and startups.

Entrepreneur Sky @Copyright 2014