In the single largest venture-capital fundraising by a bitcoin-related startup to date, digital currency exchange Coinbase has today closed a giant $100 million investment from several investors including a US-based VC firm that previously invested in Dropbox, Netflix, Twitter, Slack and Snap.
Funding will help Coinbase expand
The funding will help Coinbase expand its services to international markets and pay for regulatory costs. It also makes the bitcoin platform the most well-capitalized cryptocurrency company, with more than $200 million in total funding and a post-money valuation of $1.6 billion, nearly triple their rumored valuation in 2015.
This round also makes Coinbase part of what is called a “unicorn” club in the venture capital industry, a company with a valuation greater than $1 billion. It previously raised $117 million over five rounds from a number of high-profile investors including the New York Stock Exchange, USAA Bank, and Spanish banking group BBVA.