BitPay to Raise $40M During Financing Round

This financial was led by Menlo Ventures for which it is the first investment in the cryptocurrency field
03 April 2018   158

Based on the results of the extended round of financing of the B Series, BitPay received $ 40 million of investments. The round was led by Menlo Ventures, for which it is the first investment in the cryptocurrency field, Recode reports.

In the investment portfolio of the venture company from California, there are also such companies as Roku, Uber and Tumblr. Another investor of BitPay was Aquiline Technology Growth (ATG), which led the first part of the round in December last year.

In December BitPay attracted $30 million totally , and although initially the company announced the closure of the round, it was later decided to extend it. The result of this work is the new investments announced today.

BitPay offers individuals to make secure payments in bitcoins and Bitcoin Cash, while companies can accept crypto-currencies without paying attention to their current market rate and receiving funds for their bank accounts in Fiat.

As partner of Menlo Ventures Tyler Sosin said, the company studied the possibilities of investing in various blockchain start-ups over the past 18 months, but has not yet been satisfied with the options available. Among the attractive sides of investments in BitPay, he noted that the company does not need to bet on the success of any particular crypto currency.

Also representative of Menlo Ventures added that the company intends to expand its presence in the crypto-currency market.

Venture Capital Firm Invests in BitPay

Delta-v Capital, a venture capital and private equity firm has announced its recent investment in BitPay platform
12 April 2018   143

BitPay platform provides powerful tools for secure blockchain payment acceptance, storage, and spending. The BitPay secure bitcoin wallet is giving consumers a toolkit for getting started right with bitcoin payments, and the BitPay Card gives bitcoin users a fast way to convert bitcoin into dollars and spend their funds anywhere Visa is accepted.

Delta-v Capital, a venture capital and private equity firm in investing in special situations, growth equity, recapitalizations, and secondary direct investments, has announced its recent investment in BitPay platform.

Delta-v Capital Welcomes BitPay to its PortfolioDelta-v Capital Welcomes BitPay to its Portfolio

I think that we will look back at the advent of distributed blockchain technology as one of the most revolutionary advances since the internet, and the first area in which that disruption is already taking hold is around financial stores of value and payments. We are excited to be partnering with the BitPay team who were on the front edge of that movement in 2011 and continue to lead the charge towards increasing adoption and ease of use of Bitcoin and other crypto currencies.
 

Dan Williams

Principal, Delta-v Capital

Stephen Pair, BitPay CEO, stated that led by Aquiline Capital Partners with participation from Delta-v Capital, the $40M Series B round will fund engineering hires, regulatory licensing, technology acquisitions, and expansion into markets in Asia.