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Oak Investment Partners backs Bitcoin startup Circle’s Series B

26 Mar 2014

bitcoinOak Investment Partners has backed Circle Internet Financial by participating in its $17m Series B funding round, which brought the Bitcoin startup’s fundraising total to $26m.

Existing investors Breyer Capital, Accel Partners and General Catalyst Partners also took part in the round alongside Pantera Capital and the Bitcoin Opportunity Fund of Barry Silbert.

The round follows Circle’s $9m Series A, which was raised in November last year from Breyer Capital, Accel Partners and General Catalyst Partners.

Circle said that its products help customers use Bitcoin easily, reducing much of “the friction and risk” associated with the digital currency.

Breyer Capital founder and CEO Jim Breyer said, “Circle has continued to make tremendous progress in helping to shape and define the digital currency industry, and I am excited to be continuing to invest in and partner with Jeremy and the Circle team.

“The global transformation in payments made possible by Bitcoin and digital currency is one of the most significant investment opportunities in the past 30 years.”

Earlier this month another Bitcoin startup, Xapo, raised a $20m Series A round led by early stage investor Benchmark.

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