Digital wallet Coinbase raises $100m Series D

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fintech insurtech wealthtech regtech ai cybertech esg news

Digital wallet service Coinbase has raised $100m in its Series D funding round led by IVP.

Contributions to the round also came from Spark Capital, Greylock Partners, Battery Ventures, Section 32 and Draper Associates.

Coinbase, founded in 2012, allows users to connect bank accounts, debit cards or credit cards to the platform so they’re able to exchange digital currency in and out of local currency. The digital currency stored on the platform, which can be accessed via mobiles and web browsers, are protected by insurance policies.

The company currently supports Bitcoin, Ethereum and Litcoin in 32 countries and has exchanged over $25bn of digital currency for customers.

Coinbase will use the capital to increase the size of its engineering and customer support teams, to open an office in New York for Bitcoin exchange GDAX and to invest in Ethereum network Toshi.

This latest capital injection brings the company’s total funding to around $216m, with Coinbase receiving a $75m Series C in early 2015.

Copyright © 2017 FinTech Global

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