Recently, following the rapid growth of the firm, different executives have been brought onboard. BitMart’s Global Strategic Advisory Committee has welcomed Bo Shen, Founder and General Partner of Fenbushi Capital, and Kevin Shao, the General Manager of Blockchain Branch of Canaan Creative. The investment came after the fulfillment of the board.
“Their specialty in blockchain and decentralized finance and professional network will add critical value to BitMart’s business,” said one BitMart representative.
With the fund, BitMart can enhance its user experience as well as expand its operations across different markets such as Vietnam, Turkey and Nigeria. Alongside with the fund from the VC firm, BitMart also got an investment offer from Bitrise Capital, according to its press release.
Talking of the movement of the firm, Sheldon Xia, Founder, and CEO of BitMart said “Investment is always significant for a tech start-up”. He continued, “The strategic collaboration with Fenbushi Capital and Bitrise Capital will undoubtedly help to establish a more open and transparent capital raising ecosystem for both investors and high-quality assets.”
Established 2 years ago, BitMart has successfully raised $10 million in a Series A funding round last year. The firm claimed to offer over 200 trading pairs, with over 900,000 users around the world.