This Australian Bitcoin exchange startup just raised $815,000 to expand globally and add Ethereum to its platform

An Australian Bitcoin trading startup has secured $815,000 in a series A round it says was oversubscribed by double the original target amount.

Melbourne-based Bitcoin.com.au that allows everyday Australians to buy and sell Bitcoins — including the ability to have cash handed over at more than 1,200 physical locations including Commonwealth Bank and Westpac branches, and selected newsagents.

Business Insider understands the startup was seeking $500,000 for the round, but ended up having more than $1 million offered to it for overseas expansion and diversification into different types of cryptocurrencies.

Bitcoin.com.au was formed in 2015 and charges a 5% fee on the spot rate to generate revenue.

Sydney’s Alium Capital — which contributed to three of the biggest startup investment rounds this year in Unlockd ($30.8 million), HealthEngine ($26.7 million), and Nitro ($US15 million) — was a major investor for Bitcoin.com.au’s series A, along with Dominet Venture Partners. Read more

Tony Yoo - Business Insider - 25 July 2017