Bitnomial, a Bitcoin derivatives exchange marketplace, has raised $11.6 million from investors, led by Electric Capital per the official filing dated October 5th.
The filing also revealed the firm completed its first sale on September 18 and saw contributions raised from 13 investors. The exchange is one of the small numbers of CFTC approved derivative marketplaces in the US for physically-settled Bitcoin options and futures trading this last spring.
Bitnomial aimed to raise $10 million in the Series B funding round to utilize the funds for expanding the platform’s growth and development and become one of the leading bitcoin exchange marketplaces in the United States.
The firm declined to offer any official comment on its latest fundraising, saying that it does not comment on capital raise or financial strategies.
Another important thing to note here is that the fundraising event began in the lead up to the BitMEX fiasco. However, both Bitnomial and BitMEX have a different target audience where Bitnomial will cater to institutional investors’ needs, while BitMEX is concentrated more towards retail users.
