bitFlyer operates a bitcoin exchange serving more than 150,000 monthly users. Led by CEO Yuzo Kano, the company employs 23 people across Tokyo and Luxembourg. The firm raised ¥3bn (approx. $27m) in a Series C to support R&D of blockchain technology. It plans to use the capital to expand operations and hire new people. To date bitFlyer has raised over $34m in total funding. The company focuses on growing its exchange services and underlying blockchain capabilities. bitFlyer, led by CEO Yuzo Kano, is a Bitcoin marketplace and settlement platform based in Minato-ku, Tokyo. Its products include bitFlyer Lightning, a Bitcoin exchange designed for professionals; chainFlyer, a blockchain visualization website; the bitFlyer Android app; adFlyer, an advertisement service built on Bitcoin; and Bitcoin Multi-Sig security. The company emphasizes professional-grade trading via bitFlyer Lightning and blockchain visibility through chainFlyer. It plans to use new funding to improve security, expand its customer base, strengthen revenues, and pursue global business development. The company raised approximately JPY 510m in the disclosed funding round. bitFlyer operates a market-order style bitcoin exchange and has launched a mobile iOS app, offering multiple tiers of accounts for personal and business users. The exchange charges 0.5% plus 0.0004 BTC on buys and 0.01 BTC to sell. The company said it will use new capital to set up overseas offices, improve security, recruit talent, accelerate service development and run marketing and advertising campaigns. bitFlyer also plans to leverage relationships with investment partners and partners such as GMO Holdings to expand its customer and revenue base. Through GMO Holdings, bitFlyer has gained access to over 48,000 online merchants and started a bitcoin-based consumer rewards scheme via PointTown.

Total raised

$32M

Funding rounds

3

Latest round

Series C

Latest activity

Apr 2016