29 Mar '17, 6am

Digital Currency Exchange ShapeShift Raises $10.4 Million Series A

Digital currency exchange startup ShapeShift has closed a $10.4m Series A. Led by Berlin-based Earlybird Venture Capital, the round included participation from Lakestar, Blockchain Capital, Pantera Capital and Access Venture Partners, the firm said today. Existing ShapeShift backers, including FundersClub, Digital Currency Group and Erik Voorhees (the company’s founder and CEO) also took part in the round. The fresh capital will be used to expand the exchange's engineering team, a move that would come ahead of two exchange-related products set to be released later this year. In interview, Voorhees said that many of those hires would come on the engineering side, both in preparation of those launches as well as an anticipate rise in volume. According to ShapeShift, platform growth has averaged 48% per month in the last three years, seeing an average monthly trade volume of ...

Full article: http://www.coindesk.com/funding-shapeshift-10-4-million-s...

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