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.