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Circle Financial, a bitcoin wallet startup company, revealed that it is raising approximately $40 million in venture capital funding. The company has a pre-money valuation of $200 million from a combination of Wall Street firms and investors.
The company is based in Boston and is headed by Brightcove founder Jeremy Allaire. Prior to this, Circle Financial was able to secure around $26 million in VC funding from Accel Partners, Breyer Capital, Bitcoin Opportunity Fund, General Catalyst, Oak Investment Partners and Pantera Capital.
Bitcoin Wallet Future
According to its company website, Circle Financial is building a suite of consumer products aimed at enabling greater ease-of-use in online and in-person payments, enhanced security and privacy for consumers, and the convenience of free, instant, global digital money transfers.
The company plans to make money instant, secure, and free. Its platform allows users to send and request money from family and friends from anywhere in the world, as the bitcoin wallet functions globally.
In addition, Circle doesn’t charge fees for converting bitcoin to cash and vice versa. They also offer additional security in the bitcoin ecosystem, claiming that this technology is more secure compared to credit or debit card payments.
Apart from Allaire, the company is managed by co-founder Sean Neville who was founder and CEO of Sevenchord. Joining him is John Beccia, previously SVP and Deputy General Counsel of Boston Private Financial Holdings. Its board of directors include current CEO of Breyer Capital James Breyer, current managing director and partner at General Catalyst Partners David Orfao, and previous Deputy Director of the U.S. Consumer Financial Protection Bureau Raj Date.
However, the company has declined to comment on their plans for the recent round of funding from VCs. He hinted that company news might be announced later on in the week but it is unclear if they will divulge plans for their bitcoin wallet operations.
The company is based in Boston and is headed by Brightcove founder Jeremy Allaire. Prior to this, Circle Financial was able to secure around $26 million in VC funding from Accel Partners, Breyer […]