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Circle Internet Financial raises $9m; looks to bring tools to merchants using Bitcoin

Jeremy Allaire, founder of Brightcove, is back at it with a new venture and $9 million in Series A funding.
Jeremy Allaire, founder of Brightcove, is back at it with a new venture and $9 million in Series A funding.Credit:

Circle Internet Financial Inc., a Boston startup founded by Brightcove Inc. chairman Jeremy Allaire, said it has raised $9 million in Series A financing as it looks to bring payment acceptance tools to merchants that use digital currency.

Investors include Jim Breyer, Accel Partners, and General Catalyst Partners.

Breyer, a partner at Accel Partners, is also investing as an individual.  Breyer will join Circle’s board of directors.

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Allaire’s previous company, Brightcove, is a Boston-based online video platform.

“Bitcoin and digital currency represent a once-in-a-lifetime opportunity to shape the future of the Internet and global commerce,” Allaire, who is also chief executive of Circle Internet Financial, said in a statement.  “There’s a tremendous opportunity to make payments easier, more secure and less costly for consumers and businesses. Digital currency can dramatically reduce the friction and costs currently experienced in the world by merchants and consumers.”

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