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Xapo Receives $20,000,000 New Funding

  • Feed Type
  • Date
    3/14/2014
  • Company Name
    Xapo
  • Mailing Address
    364 University Avenue Palo Alto, CA 94301
  • Company Description
    At Xapo, we believe that bitcoin’s ultimate success will be based on trust – trust in the digital currency and trust in the industry’s service providers. That’s why we assembled a team of financial services and security experts to build a new usage and storage experience.
  • Website
    http://www.xapo.com
  • Transaction Type
    Venture Equity
  • Transaction Amount
    $20,000,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    The $20 million investment is going towards managing the massive amount of security required to maintain a secure bitcoin environment and, more interestingly, apply enough security to convince insurance houses to pay up if someone hacks into the vault.
  • M&A Terms
  • Venture Investor
    Benchmark Capital
  • Venture Investor
    Fortress Investment Group
  • Venture Investor
    Undisclosed

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