Bitcoin Exchange bitFlyer Raises $4 Million in New Funding

BitFlyer has raised approximately 510m JPY ($4m) through third-party allotment, which entails issuing new shares to a limited number of investors.

AccessTimeIconAug 12, 2015 at 12:08 p.m. UTC
Updated Sep 11, 2021 at 11:49 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Bitcoin exchange bitFlyer has raised approximately 510m JPY ($4m) through third-party allotment, which entails issuing new shares to a limited number of investors.

According to a company statement, investors included VC firms Mitsubishi UFJ Capital Co – one of Japan's largest investors  – Venture Labo Investment Co and Mitsui Sumitomo Insurance Venture Capital Co.

– a business management company in the digital communications market – and financial information provider Quick Corp also participated in the round.

Japan-based bitFlyer said it would use the latest funds to heighten security for its customers plus establish 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 our global business development."

The news follows the closure of a previous 130m JPY ($1.1m) funding round in January, led by Barry Silbert's Digital Currency Group, and brings the exchange's total funding to date to approximately $6.9m.

BitFlyer was first launched after its CEO Yuzo Kano, a former derivatives and convertible bonds trader at Goldman Sachs, raised $1.6m last summer.

At the time, it was perceived that the new exchange set out to recapture the vacuum in Japan's bitcoin market market following the collapse of the exchange Mt Gox.

Money image via Shutterstock.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.