Circle Raises $9M Series A From Accel And General Catalyst To Make Bitcoins Mainstream

TechCrunch

Circle Internet Financial has launched with $9M of Series A funding to increase mainstream adoption of digital currencies like Bitcoin by providing a payment platform for consumers and merchants. Investors include Jim Breyer, Accel Partners and General Catalyst Partners.

All three invested in Circle founder Jeremy Allaire’s previous startup Brightcove, an online video platform that went public in 2012.

Circle is a payment platform that wants to make it easy for businesses and consumers to use Bitcoin and other digital currencies. Despite its association with Deep Web black market Silk Road, as well as concerns over its stability, more consumers and companies are beginning to show interest in Bitcoins because they can facilitate online payments at lower costs and with greater security and privacy than existing electronic payment methods. One potential draw for merchants is avoiding the fees and risks of fraud and chargebacks associated…

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