According to Bloomberg, Xapo Ltd., a provider of secure online storage for Bitcoins, has raised $20 million in its first round of funding led by Benchmark.

Ribbit Capital, a Silicon Valley venture firm that invests in technologies for financial services, and Fortress Investment Group LLC (FIG), a New York-based private-equity and hedge-fund manager, participated in the round.

Xapo combines the convenience of an everyday Wallet with the security of a cold-storage Vault.

Our experienced financial services and security experts are dedicated to building the best products to manage all of your bitcoin needs. The Xapo Vault offers fully insured storage for long term savings, while the Xapo Wallet gives easy, immediate access for day-to-day purchases.