Bitcoin.com.au, a Melbourne-based bitcoin trading startup, has raised $815,000 in a series A funding round, Fintech Business reported.

Rupert Hackett, chief executive at Bitcoin.com.au, said that the new capital would be used to expand the firm’s operations to the United Kingdom and Canada. The startup also plans to add support for other digital currencies including ether and ripple on its platform, Hackett said.

"Currently, more than $8.5 billion is transferred using bitcoin globally every 24 hours – and with scaling solutions now resolved, bitcoin is poised to be the fastest, lowest cost and most secure form of currency ever created," he said.

Business Insider reported that the funding round was led by Alium Capital and also drew support from Dominet Venture Partners.

"Consumers, SMBs and enterprises are in the midst of a transformation in digital asset value, storage and payments with the advent of cryptocurrencies,” Alium Capital partner Rajeev Gupta said. "We believe Rupert and the team at Bitcoin.com.au provide a platform that is a pure play 21st century asset class for digital cryptocurrencies in Australia."

Formed in 2015, Bitcoin.com.au enables users to buy and sell bitcoin, including the ability to have cash handed over at over 1,200 physical locations across the country.

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