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Bitcoin Wallet Circle Rumored To Be Raising $40 Million

Bitcoin Wallet Circle Rumored To Be Raising $40 Million

Boston-based bitcoin wallet startup Circle Financial is looking to raise more cash in a rumored round of fundraising that could be formally announced in the coming days.

If the rumors are true, the company is expected to disclose that it is raising around $40 million in its third round of funding at a valuation of $200 million.

Attracting Wall Street Interest

In two previous fundraising efforts, Circle Financial was able to attract several large venture capitalists including Accel Partners, Pantera Capital and Bitcoin Opportunity Fund in order to bring in $26 million.

This time around, the company is expecting to garner interest from some of Wall Street's finest as well as venture capital firms. If the rumors are confirmed, the new investment would bring the company's investment total up to $66 million.

A Simple Wallet

Circle has marketed itself as a simple, streamlined way for the average person to engage in the bitcoin market. The company's slogan "Hello, money" reflects its mission— to protect consumers while still making their experience simple.

Related Link: Bitcoin Exempt From VAT Tax In Spain

The company claims that it is working to "make using money instant, secure and free."

By making the process easy and low cost, many believe that Circle Financial is helping to propel bitcoin into mainstream use by attracting customers who know little about the digital currency.

Rumors To Be Addressed

Fortune reported that Circle has not confirmed or denied the rumors surrounding its largest fundraising effort to date, but that the company did say it would be making an unspecified announcement some time in the coming days.


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Posted-In: Accel Partners Bitcoin Bitcoin Opportunity Fund Circle Financial Pantera CapitalCryptocurrency Top Stories Tech Best of Benzinga