Coinbase Raises $165K via FundersClub

Coinbase, a San Francisco, CA-based startup that is developing a wallet for the digital, decentralized currency bitcoin, has raised $165k in funding.

Thirty-one investors have backed the company via FundersClub.

Led by founder and CEO Brian Armstrong (Twitter: @brian_armstrong), and also backed by Y Combinator, Coinbase aims to be “the paypal of Bitcoin”.

Commenting on the funding, Armstrong said: “FundersClub made fundraising a breeze. The angel investors in its network were much more willing to write checks at our stage, and could easily complete all the paperwork online. This is how fundraising should be“.

Bitcoin Definition (from
Bitcoin is an experimental new digital currency that enables instant payments to anyone, anywhere in the world. It uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network. Bitcoin is also the name of the open source software which enables the use of this currency. The software is a community-driven open source project, released under the MIT license.



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