Goldman, IDG Lead $50M Round In Bitcoin Firm Circle

U.S. bitcoin start-up Circle has completed US$50 million strategic investment round led by Goldman Sachs and IDG Capital Partners, according to a company announcement.

Existing investors including Breyer Capital, General Catalyst Partners, Accel Partners, Oak Investment Partners, Fenway Summer, Digital Currency Group, Pantera Capital, also participated in the round.

IDG Capital will help the company bring its products and services to China, says the statement.

"Consumer finance is undergoing a profound transformation with the rise of mobile payment applications and a growing appetite for financial products from non-traditional providers," says Quan Zhou, managing director of IDG Capital.

"We…look forward to helping launch the company in the Chinese market where consumer adoption of innovative digital payment products is growing at a tremendous rate," he adds.