Bitcoin financial startup Mirror raises $8.8m Series A

Investing | June 8, 2015 By:

Bitcoin financial startup Mirror has raised $8.8 million Series A in a round led by Route 66 that included existing investors Battery Ventures, Crosslink Capital, RRE Ventures, and Tim Draper.

The company said it would use the new round to build out its engineering team while scaling its international operations.

“There is an unbundling of the financial services industry that’s occurring right now, and we see an enormous opportunity to provide advanced, more efficient services for risk management and hedging. We’re building tools for traditional financial assets, leveraging the Bitcoin protocol,” said Mirror o-Founder and CEO Avish Bhama.

Mirror leverages Blockchain technology to allow individuals and businesses to create and exchange financial contracts, delivering a decentralized market that enables new ways to hedge economic and business risks at what the company claims is a fraction of the normal cost.