Reinventure Group, a venture capital firm backed by Westpac, the second-largest bank in Australia, has been revealed as one of bitcoin wallet and exchange service Coinbase's Series C backers.
Coinbase announced in January that it had raised $75m in new funding, a round that drew support from Spanish megabank BBVA and Fortune 500 financial services group USAA, among others.
"We're very excited to be working with such a great management team and look forward to helping them grow their business," Simon Cant, co-founder of Reinventure, told the Morning Herald.
Reinventure's investment portfolio features two financial technology startups: peer-to-peer lending platform SocietyOne and payments firm PromisePay.
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