Bitcoin startups continue to attract investors even as prices of the digital currency have fallen this year from above $1000 to a recent $420. Included in the group of companies that have received funding in 2014 are Bitstamp, Kraken, GoCoin, and Circle. Adding to that list is Vaurum which has received $4 million in funding from investors including Tim Draper, Steve Case, and Battery Ventures.
Founded in 2012, along with a growing list of bitcoin firms, Vaurum participated in the Boost accelerator program last year. Led by Co-Founders Avish Bhama and Sean Levine, Vaurum is creating white label bitcoin exchange products aimed at the financial industry. As white label products, financial firms can partner with Vaurum to offer their clients bitcoin exchange and storage services without needing to develop their own platforms. Along with the white label offering, Vaurum also operates its own exchange, BitMe.
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Headquartered in Palo Alto, California, the current $4 million funding round follows earlier interest for the firm from investors. In addition to the current funders, earlier investors include Barry Silbert, the Boost Bitcoin Fund, and Ludlow Ventures.