Cryptocurrency “vending machine” ShapeShift was launched in late 2013, and is growing up fast. A recent $525k funding round led by Barry Silbert and Roger Ver confirms its promise to be a pioneering platform for exchanging cryptocurrencies.

Initial reports state the amount incorrectly as £525k. The correct amount was confirmed to this author by Barry Silbert as $525k.

A blog post on the ShapeShift website now identifies Erik Voorhees to be the true creator of the Swiss-based company. Original articles from last year had named CEO Beorn Gonthier as the creator.

From the ShapeShift website:

ShapeShift is an instant exchange for Litecoin, Bitcoin, Peercoin, Dogecoin, Darkcoin, Namecoin, Feathercoin, Blackcoin and other cryptocoins. As a new service, it is the fastest way to trade between these digital currencies. An exchange between coins on ShapeShift takes only a few seconds, and no account is needed. There has never been a faster, easier way to exchange Bitcoin, Dogecoin, Litecoin, Peercoin, Darkcoin, Namecoin, Feathercoin, Blackcoin and other cryptocurrencies. You can use ShapeShift to convert instantly between these altcoins individually or in an automated fashion. Exchanges typically occur in less than ten seconds. ShapeShift respects your time, privacy, and security, and so the exchange does not require accounts, passwords, or your email address.

ShapeShift lists Bitcoin plus 24 other altcoins in their exchange but does not charge any fees, including service fees. The only fees incurred would be the “miners fees”, but this would apply to any transaction.