Yuzo Kano, CEO of Bitflyer,Inc. issued an official statement earlier today talking about the recent successful round of fundraising, which brought in a whopping JPY 130m in funds. Bitflyer is a Bitcoin company located in Japan, where they are making some headlines over the past few months in regards to Bitcoin adoption and their very own crowdfunding platform. The funds raising in this round of fundraising will be used to expand Bitflyer’s comprehensive Bitcoin platform and marketplace.
Some Very Interesting Names
BitFlyer’s recent fundraiser saw many third parties extending a financial helping hand, but there are some interesting names on that list. For starters, we have RSP Fund No. 5, a wholly owned subsidiary of Recruit Holdings, Co., Ltd. RSP (Recruit Strategic Partners) is mainly known for investing in and providing management support to IT companies providing innovative services and products to the world. One of the main things to be said about BitFlyer is the fact their platform is one of the best in the world in terms of learning about Bitcoin.
Another interesting name on the list of parties involved in the crowdfunding is GMO Venture Partners. Some of you may be familiar with this name, as GMO Venture Partners is the venture capital arm of GMO Internet Group, whom have invested over JYP 5 billion divided amongst 51 companies in total. GMO Venture Partners usually invests in domestic (Japan/Singapore) and international IT venture companies, in order to support both business expansion and corporate value improvement.
Last but not least, we have Bitcoin Opportunity Corp, based in New York, US. Bitcoin Opportunity Corp. is one of the most prominent Bitcoin investment funds worldwide, as they have invested in various “big brand” virtual currency companies including Xapo, Coinbase and BitPay. Even though you may not know the fund’s name, you will know the name of Barry Silbert, who is the CEO of Bitcoin Opportunity Corp. It is also interesting to note that this is the second time the fund invests in BitFlyer, as they also made a contribution in October of 2014.
Usage of the Funds : Strengthening Both Domestic and International Markets
After securing JPY 130m in funding, BitFlyer will use this funds to strengthen their Bitcoin-related businesses in the domestic and international markets. Furthermore, overseas offices will be set up, which also includes hiring additional staff to man the new offices. Bitflyer’s service development will receive an acceleration boost, and marketing & advertising campaigns will be organized to promote business growth.
In addition to all of the above, the global business expansion will be greatly facilitated by the synergies gained from working closely with Bitflyer’s investment partners, the customer base expansion and last but not least, the strengthening of Bitflyer’s revenue base. However, the company would also like to point out that the ongoing battle versus improving security – while offering customers the best possible service – is still the primary goal.
Website : https://bitflyer.jp/en/