US-based digital payments platform Bitnet Technologies has secured $14.5m in a series A round featuring Japan-based internet and e-commerce company Rakuten.
Venture capital firms Highland Capital Partners, Commerce Ventures and Webb Investment Network, Bitcoin investment vehicle Bitcoin Opportunity Fund, and investment firms Stephens Investment Management and Buchanan Capital Management also participated.
Founded in January, Bitnet is a digital payments platform that allows merchants to except bitcoin payments. The funding was secured as the company plans to launch its platform and hire new staff, and it also intends to use the funds to expand its presence into Asia and Europe.
Following its investment, Rakuten, which is Japan’s largest e-commerce site, is to begin using Bitnet’s services.