ShapeShift, the Switzerland based digital currency only exchange has raised $1.6 million in a seed-funding round. Unlike other conventional digital currency exchanges, ShapeShift does not deal with fiat currency. However, people instantly swap any digital currency pairs on the platform.
ShapeShift is one of the innovative bitcoin companies out there, which has stuck to the whole essence of bitcoin and other digital currencies. Users of ShapeShift do not have to share their personal details while using the platform to exchange one cryptocurrency with other. It was founded last year by Eric Voorhees of Coinapult fame.
The seed-funding round was led by Barry Silbert’s Digital Currency Group along with Roger Ver in the lead. Other investors in ShapeShift include Bitfinex (the bitcoin exchange and trading platform), Max Kaiser and Simon Dixon’s Bitcoin Capital, Michel Terpin, Trevor Koverko, Mardal Investments and Bruce Fenton. Including the latest seed round, ShapeShift has so far raised $2.39 million in funding.
ShapeShift has received a great reception from the crypto-community across the world. The company has experienced an exponential growth since its inception in August last year. According to reports, ShapeShift has grown over 100 times since