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Cryptocurrencies

BitPay announces USD 30 million Series B funding

Thursday 7 December 2017 | 10:51 AM CET

BitPay, a Bitcoin payments processor, has been raising USD 30 million in a strategic Series B funding.

The funding round was led by Aquiline Technology Growth (ATG), a fund managed by Aquiline Capital Partners, a New York-based private equity company investing in businesses across the financial services sector in banking and credit, insurance, investment management and markets, and financial technology and services.

The company plans to use the latest funding for strategic steps toward solving payments-related problems, having already made inroads in 2017 into cross-border supply chain payments and other payments underserved by traditional credit card and banking infrastructure. The latest round follows a Series A round in which the bitcoin startup raised USD 30 million in 2014.

BitPay further outlines its goals for 2018 post-raise, which includes key engineering hires, regulatory licensing, technology acquisitions, and expansion into emerging markets in Asia.

More: Link
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