Coinbase raises $5m in Series A funding

We’re excited to announce that Coinbase has raised $5m in Series A funding from Fred Wilson at Union Square Ventures. You can see his post about the investment here. Ribbit Capital, SV Angel, and Fundersclub also participated in the round.

This post is obviously belated, but we wanted to take a moment to both announce the round of funding ourselves as well as share where we plan to go from here.

Our goal is to make Bitcoin easy to use for the average consumer and the average merchant. Given how quickly Bitcoin has come into the spotlight in the past 2–3 months, we, like many others, experienced some growing pains. Our goal in raising money is to eliminate these pain points one by one. These include both buying limits, how fast bitcoin is delivered after purchase, and which payments methods can be used. With each point, we hope to make Bitcoin more accessible and usable by the masses. We couldn’t be more thrilled with the opportunities such backing provides us, and look forward to providing our users with the best experience possible.

We’re also looking for outstanding people to join the team in engineering, design, support, compliance, and business development.