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Circle Internet Financial, the company which very few know details about, has reportedly received a $17 million investment in Series B funding.
The cash comes from a number of investors that include Breyer Capital, Accel Partners, General Catalyst Partners, Pantera Capital, and Barry Silbert of SecondMarket.
Other investors who participated in the round include Circle board member Michele Burns, Leonard Schrank of SWIFT (Society for Worldwide Interbank Financial Telecommunication), and Fenway Summer, a consumer finance advisory with Raj Date at the helm (who’s also on the Circle board).
“We are thrilled to have such a strong showing of support and vote of confidence from world-class investors and strategic individuals as we move into the commercial phase of Circle,” said Circle founder and CEO Jeremy Allaire.
The investment will allow the Boston-based company to add more employees to their team in areas like product development, customer support, legal, and legal compliance. In addition, a portion of the funds will be used to build out a secure platform for customers.
Products
Speaking of products, the company has unveiled just what they’re looking to do after months of silence. According to Allaire, Circle will be offering customers a way to convert their fiat currency to bitcoin, in addition to including tools that make it simple to manage bitcoin holdings.
Before these services are widely available, the company is allowing prospective customers to request an invite to the services (which can be done on the Circle homepage).
“We are being very careful and deliberate in how we add users to our system, ensuring that it is a product that users value and recommend to their friends and family, and that, from an operational perspective, we are able to deliver an exceptional experience,” Allaire said.
The company is building itself to be a transparent, compliant, and reliable service. No word on when services will be open to the general public. [sources: CoinDesk, Re/Code]
