News and Announcements
Bitcoin.com.au Secures $815,000 in Series A Round
- Published August 18, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Melbourne-based BitCoin.com.au allows everyday Australians to buy and sell Bitcoins – including the ability to have cash handed over at more than 1,200 physical locations including Commonwealth Bank and Westpac branches, along with selected newsagents.
KEY TAKEAWAYS:
- The company has secured $815,000 in a series A round also being oversubscribed by double the original target amount.
- Bitcoin, Ethereum and Ripple prices have sky-rocketed along with a value surge.
- The Business Insider Australia understood “the startup was seeking $500,000 for the round, but ended up having more than $1 million offered to it for overseas expansion and diversification into different types of cryptocurrencies.”
Sydney’s Alium Capital — which contributed to three of the biggest startup investment rounds this year, was a major investor for Bitcoin.com.au’s series A, along with Dominet Venture Partners.
Alium Capital partner Rajeev Gupta said his fund had been looking for a way to invest in the growth in decentralised currencies.
“Consumers, [small businesses] and enterprises are in the midst of a transformation in digital asset value, storage and payments with the advent of cryptocurrencies,” said Gupta.
“We believe [founder and chief Rupert Hackett] and the team at Bitcoin.com.au provide a platform that is a pure play twenty-first century asset class for digital cryptocurrencies in Australia.”
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