Bitcoin start-up Circle raises $60m, forms Circle China

Bitcoin start-up Circle Internet Financial has raised $60m

Bitcoin start-up Circle raises $60m, forms Circle China

Bitcoin start-up Circle Internet Financial has raised $60m in fresh round of funding led by existing investor and Beijing-based venture capital IDG Capital Partners.

American private equity company Breyer Capital, General Catalyst Partners and Chinese strategic partners, including Baidu, CICC ALPHA, China Everbright Limited, Wanxiang and CreditEase have also supported the Series D financing.

The company also announced that Circle China was formed six months ago as an independent Chinese company focused on bringing the benefits of open, global social payments to Chinese consumers.

Circle is currently working with the regulators to open Circle Euro support to consumers in Spain as the first part of a broader European-wide rollout to come over the coming month.

In a company blog post, Circle co-founders Jeremy Allaire and Sean Neville said: “Consumers in the US, Europe and China should be able to exchange value freely and instantly, the same way we share information and content. To that end, we introduced this technology and consumer experience to Europeans.

“A couple of months ago we announced that we had received an EEA E-Money Issuer licence from the UK Financial Conduct Authority, and launched the Circle service in the UK with native support for Pound Sterling.”