29 Mar '17, 4pm

Digital asset exchange ShapeShift raises $10.4 million in funding

Switzerland-based ShapeShift, a digital currency exchange, said on Wednesday it has raised $10.4 million in capital from both U.S. and international venture capital investors to fund future expansion. ShapeShift instantly exchanges digital currencies such as bitcoin for other online tokens without using conventional currencies such as dollars or euros. The company has grown an average of 48 percent per month since launching just under three years ago, it said in a statement. The Series A funding was led by Berlin-based Earlybird. Other new investors include Lakestar, Access Venture Partners, Pantera Capital and Blockchain Capital. Previous ShapeShift backers FundersClub and Digital Currency Group also participated. So did the digital asset exchange's founder and chief executive officer, Erik Voorhees. The funds will be mainly used for further expansion of the company to ke...

Full article: http://www.reuters.com/article/us-bitcoin-funding-shapesh...

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