Netherlands-based crypto broker BTC Direct has raised $13 million in a Series A financing round from unnamed investors. Speaking to The Block, the head of marketing and communications at BTC Direct, Toon Schraven, said that one of the private investors is a European investment group.
Shortly after launching BTC Direct in 2013, BTC Direct also launched the crypto trading app BLOX. The company’s head of marketing and communications told The Block that BTC Direct also provides fiat-to-crypto onramp services to wallet providers and exchanges. Also, Schravan said that BTC Direct offers a hardware wallet.
According to The Block, BTC Direct CEO Mike Hutting only revealed plans for the raised funds without specific details. The broker is planning to expand its current team over the next 18 months. The CEO said:
“Our team of 50 will probably double within 18 months, hence we will fill-in several vacancies in engineering and other interesting roles within our company. Continuous focus is being spent on product development and broadening our marketing efforts.”
In addition, Cointelegraph reported that BTC Direct co-founder Davy Stevens said that the financing round was well-timed. According to Stevens, cryptocurrencies are getting more acceptable in society, and BTC Direct is preparing for “what seems to be, a volatile period for all tradable assets.”
Noting that BTC Direct has partnered with several crypto companies since its launch in 2013, the co-founder also said that the company looks forward to more collaborations.
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