Total amount raised
$10 Millions
Latest funding date
12/01/2017
Location
Okcoin has successfully raised funds through multiple rounds, with the latest being a Series B round. The platform is a major cryptocurrency exchange, offering services such as spot trading, OTC trading, and a mobile app.
Keep reading to explore the intricacies of Okcoin's fundraising journey and the investors backing this innovative platform.
What Is Okcoin?
Okcoin, founded on June 1, 2013, is a prominent player in the blockchain, financial services, fintech, and Web3 industries. The company is headquartered in San Francisco, California, and was founded by Mingxing Xu. It employs between 251 and 500 people.
As one of the world's largest cryptocurrency exchanges, Okcoin aims to build an inclusive future of finance. The platform offers fiat trading with major digital assets like Bitcoin, Ethereum, and Litecoin, serving millions of users in over 100 countries. Okcoin is committed to eliminating trading barriers and improving transaction efficiency while adhering to high regulatory standards.
Recently, Okcoin announced a rebranding to OKX, leveraging the globally recognized OKX name. The company has been active in the US market since 2017, focusing on licensing and community building. Existing customers will continue to have access to their assets and benefit from new services post-rebranding.
How Much Funding Has Okcoin Raised?
- Series A
- Amount Raised: $10M
- Date: March 2014
- Lead Investors: Ceyuan Ventures, Mandra Capital, VenturesLab, and other angel investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funds were used for team and international expansion, research and development, and security improvement.
- Series B
- Amount Raised: Not publicly disclosed
- Date: December 2017
- Lead Investors: Giant Network, PreAngel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The specific motivations behind this round are not detailed.
Total Amount Raised: $10M
Current Valuation: Not publicly disclosed
Key Investors
- Giant Network
- Details: Giant Network is a leading Chinese gaming company known for its online games. It has a significant presence in the gaming industry and has expanded its portfolio to include various technology ventures.
- Investment Focus Areas: Gaming, Technology, Entertainment
- Notable Investments: Not publicly disclosed
- Ceyuan Ventures
- Details: Ceyuan Ventures is a venture capital firm based in China focusing on early-stage investments. The firm is known for its strategic investments in technology and media sectors.
- Investment Focus Areas: Technology, Media, Telecommunications
- Notable Investments: Not publicly disclosed
- Mandra Capital
- Details: Mandra Capital is an investment firm that participated in Okcoin's Series A funding round. The firm focuses on providing capital to innovative and high-growth companies.
- Investment Focus Areas: Technology, Financial Services, Startups
- Notable Investments: Not publicly disclosed
- VenturesLab
- Details: VenturesLab is a venture capital firm that also participated in Okcoin's Series A funding round. The firm is known for its support of early-stage technology companies.
- Investment Focus Areas: Technology, Startups, Innovation
- Notable Investments: Not publicly disclosed
- Other Angel Investors
- Details: A group of unspecified angel investors participated in Okcoin's Series A funding round. These investors typically provide capital for startups in exchange for ownership equity or convertible debt.
- Investment Focus Areas: Various sectors depending on individual investor interests
- Notable Investments: Not publicly disclosed
What's Next for Okcoin?
Okcoin is poised for significant growth, driven by opportunities in team and international expansion, research and development, and security improvement. The company's focus on these areas aligns with industry trends of increasing investment in cryptocurrency and technological advancements in fintech.
Future fundraising opportunities seem promising, given the successful Series A round and the ongoing expansion efforts. Okcoin may pursue additional funding rounds to support its growth initiatives and potentially explore strategic acquisitions to enhance its technological capabilities or market reach.
However, challenges such as maintaining security, navigating regulatory environments, and managing rapid growth could pose obstacles. Addressing these challenges effectively will be crucial for Okcoin's continued success and expansion in the competitive cryptocurrency market.
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