BTC China Receives $5M In Series A Funding

Shanghai-based Bitcoin exchange platform BTC China says it has received US$5 million series A funding from Lightspeed China Partners and Lightspeed Venture Partners.

The company says it will use the proceeds on general operations and business expansion.

Founded in 2011, BTC China claims to be the biggest Bitcoin exchange in China, with 90,000 Bitcoins in daily trading volume and more than RMB200 million in daily transactions.

Lightspeed China Partners (LCP) is a venture capital firm focused on early-stage investments in the Internet, mobile services and enterprise solution companies in China.

Lightspeed Venture Partners is an early-stage venture capital firm with over US$2 billion under management and has backed more than 200 companies.

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