Popular cryptocurrency exchange ShapeShift has announced that it's closed a new Series-A funding round, taking in more than $10 million dollars earmarked to help the service grow. ShapeShift allows users to easily convert digital assets from one form to another with low exchange and transaction fees.
The company, founded in mid-2014 by cryptocurrency expert and investor Erik Voorhees, took in funding from several investors led by Earlybird Venture Capital from Berlin. Earlybird was joined in the round by Access Venture Partners, Pantera Capital, Lakestar, and Blockchain Capital. Existing investors who also contributed to the round included Founders Club, Digital Currency Group, and Voorhees himself.
The funds will be used for service expansion and to fund the release of two new, yet unannounced, products sometimes later in 2017.