Xapo Sets $40 Million Fundraising Record for Bitcoin Industry
Online wallet provider Xapo has raised its funding total to $40m, leapfrogging BitPay to become the best-funded bitcoin startup to date. Announced today, the startup's second Series A-1 funding round took $20m in total. Spearheaded by Index Ventures and Greylock Partners, the round also included Emergence Capital Partners, venture capitalist Yuri Milner, PayPal co-founder Max Levchin and former Yahoo! CEO Jerry Yang. Back in March, Xapo's initial round was led by Benchmark Capital, Fortress Investment Group (FIG) and Ribbit Capital. At the time, it was the second-biggest funding round in....
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A few weeks after suffering the wrath of Bitcoiners about unexpected cards fees that came with a two-month card shipping delay, the company is experiencing new setbacks from customers that complain about funds not showing up. Editor: XAPO response at the bottom of this post. XAPO Customers Complain. XAPO, the company with the largest capitalization of all Bitcoin industry with a $40M record fundraising, is again experiencing the wrath of its users. A Redditor has indeed reported a mysterious case of funds not showing up: after transferring 10 BTC ($ 4,030) to his Xapo's account, he....
Bitcoin start-up Xapo is feeling pressure from the community this week following a string of posts on Reddit.com condemning the company for charging fees - something one would expect any business to do in order to remain afloat. And Xapo has taken the opportunity to go on the record and make clear what's going on with fees and shipping in this blog post, which you can click here to view. On acquiring the card: When we announced the Xapo Debit Card a few months ago, we noted that there would be a one-time fee of US$15 in connection with ordering the card. That is still the case. Users who....
Bitcoin security company Xapo has reportedly raised a whopping $20 million in Series A-1 funding from Greylock Partners and Index Ventures, we're learning this Tuesday morning from various reports. Other participants in the funding round included Jerry Yang (Yahoo! Inc. co-founder), Emergence Capital Partners, Max Levchin (PayPal co-founder), Yuri Milner. The significant investment breaks a record in the digital currency space, effectively making Xapo the most invested in company operating in the space to date. Previous investors that poured in $20 million into the company include Fortress....
In a new blog post, Bitcoin company Xapo has revealed more about how they do security. Xapo has also revealed that they have passed a Service Organizational Control 2 (SOC2) financial audit by Burr, Pilger & Mayer LLP. The SOC2 financial audit is a component that many of Xapo's institutional partners require. Xapo's CEO Wences Cesares told CryptoCoinsNews that Xapo's new security measures are meant to assure Bitcoin users around the world that proper security methods do exist and are being practiced by Bitcoin companies. Speaking about security measures for the use of the fledgling....
XAPO Cat is watching you... You may have heard about how XAPO is charging excessive previously undisclosed fees on their Xapo Debit Card, but what you may not know is that they will reimburse you for the third-party monthly fees, in Bitcoin! Though, aside from the $15 shipping fees, XAPO included a few other hidden fees they consider to be "customary fees just as with any other debit card." XAPO Debit Card Fees. XAPO has been under a lot of PR stress lately as they released the fee schedule from their debit card supplier. On August 4th, XAPO posted an update on their news feed which stated....