ShapeShift, a Switzerland-based blockchain asset exchange platform, closed a $10.4m Series A funding.
The round was led by Earlybird Venture Capital, with participation from Lakestar, Blockchain Capital, Pantera Capital and Access Venture Partners, FundersClub, Digital Currency Group and founder and CEO Erik Voorhees.
The company will use the capital to expand the engineering team and to release new products in 2017.
Formed in August of 2014, ShapeShift is a web and API platform that provides instant Bitcoin and altcoin conversion withmconsumer protection and efficiency.
Users do not have to create accounts, deposit funds, or provide private personal information, this keeping the users safe from identity or financial theft.
The company does not use banks or political currencies anywhere in its operations.