BitFlyer, a bitcoin exchange located in Japan, has recently raised $4 million through a third- party allotment, which requires issuing of new shares to a limited number of investors.
As stated by the company, the investors are Mitsubishi UF J Capital Co which is one of the largest investors in Japan, Venture Labo Investment Co and Mitsui Sumitomo Insurance Venture Capital Co.Along with them, Dentsu Digital Holdings Inc. which is a business management company in the digital communications market and Quick Corp, a financial information provider has also participated in the round.In a statement by the chief executive officer of BitFlyer, Yuzo Kano stated, “Since our previous funding closed in January, BitFlyer has implemented many new services including Lightning, a Bitcoin Exchange designed for professionals, chainFlyer, a website that provides a visualization of the blockchain, an Android application BitFlyer for Android, adFlyer, an advertisement service built on Bitcoin, and has introduced the latest in Bitcoin Multi- Sig security.
”BitFlyer has plans to make use of the latest funds to increase the security for its customers in order to establish and maintain a solid management system.Kano further states, “BitFlyer will use the latest funding round to build a more robust security environment for our customers to trade bitcoin, establish a firm management foundation with increased capital, and maintain a solid management system.In addition, BitFlyer will take advantage of synergies available with each investment organization, and will continue to promote customer base expansion, strengthen revenues, and expand our global business development.”In January 2015, BitFlyer raised $1.1 million which is led by Bitcoin Opportunity Corp’s Barry Silbert, Recruit Holding Ltd, subsidiary RSP Fund no.
5 and GMO venture Partners.GMO Payment Gateway partnered with BitFlyer on September 2014, to provide the option to pay with Bitcoin to its 48,000 online merchants and even began a bitcoin based consumer rewards scheme through PointTown which is owned by GMO Media.The company stated, “This investment scheme will enable investors to convert their holdings into future issued class shares, allowing for quick and efficient fundraising.”In July 2014, BitFlyer raised $1.6 million which brings the total funding to date to approximately $6.
9 million. BitFlyer aims to become the leading player in bitcoin’s growing market in Japan.Kano concluded by stating,“As always, BitFlyer will continue to pursue our primary goals of improving security while providing the best possible services to our customers. Thank you for using BitFlyer.”
