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Japan’s Bitflyer Raises $27M from SBI-Led Funding Round

Japan’s largest bitcoin exchange operator Bitflyer has raised approximately 3 billion yen, or around US$27 million, in new capital, the largest Japanese fintech investments to date.

According to a report by the Nikkei Asian Review, Tokyo-based Venture Labo Investment and SBI Investment led the Series C investment round. The funds were raised through a third party allocation of new shares.

The exchange claims to have served more than 150,000 traders in April, 10 times the level of a year ago.

Founded by Yuzo Kano in January 2014, Bitflyer has raised over $34 million from the above investors as well as Digital Currency Group, Mitsubishi UFJ Capital and Mitsui Sumitomo Insurance Company.

Journalist, policy analyst, and evangelist of new, disruptive technologies including big data analytics, Internet of Things, and cryptocurrencies. Internet industry veteran with regional c-suite experience, and journalist credentials earned at, Internet World magazine, and Mecklermedia Corporation.
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