CoinPayments Seeks to Raise $30 Mln in Series A Offering
Cryptocurrency payment gateway launches fund raise using BnkToTheFuture platform
George Town, Cayman Islands – 6th December 2018
CoinPayments, a cryptocurrency payment gateway for bitcoin and over 1,000 altcoins, today announced a $30 million Series A round of funding via the BnkToTheFuture global online investment platform. CoinPayments is the only cryptocurrency payment processor to offer payment support for such a wide array of cryptocurrencies. This new funding will allow CoinPayments to further their vision of cryptocurrency adoption and banking the unbanked by expanding the platform along with the addition of several new features.
”My vision is to help shift the global money supply from institutions run by private interests to an open, predictable and transparent money system.”
– Alex Alexandrov – CEO, CoinPayments
Some of the current problems facing the adoption of cryptocurrency usage include price volatility, centralization risk, cryptocurrency purchase and conversion and the ability to find appropriate businesses that accept cryptocurrency payments. CoinPayments will use the funding raised from this Series A round to:
- Expand and improve the CoinPayments platform and mobile app
- Integrate fiat settlements into the platform to allow businesses to overcome the price volatility
- Decentralize the storage of private keys to create two independent but interoperable systems
- Simplify the conversion of cryptocurrencies for users via a one-click instant conversion feature
- Create a global decentralized marketplace bringing together merchants and buyers to transact in cryptocurrencies
Founded in 2013, CoinPayments has experienced exponential growth year over year since having raised just over $250,000 in seed funding on the BnkToTheFuture platform back in 2015. CoinPayments was the first cryptocurrency payment processor to support payments in Litecoin and Ethereum and has been able to capitalize on this first-mover advantage to fuel its exponential growth. CoinPayments has since grown to support over 1,000 altcoins on their platform used by over 2.3 million businesses and users across 182 countries. In 2017 CoinPayments processed over $930 million USD in business transaction volume and over $1.3 billion USD in consumer transaction volume.
More information about the $30 million Series A fund raise can be found on the BnkToTheFuture official listing here.
BnkToTheFuture is the largest global online investment community of professional investors all investing in financial innovation and technology. Investors have access to invest in the same caliber of deals that top FinTech Angel investors and venture capitalists have access to. The BnkToTheFuture community is truly global, with active investors and entrepreneurs from 112 countries. Their team handles all documentation, admin and payment for both investors and companies fundraising through the platform.
CoinPayments was founded in 2013 as the first altcoin payment processor and has since grown to support payments for bitcoin and over 1,000 altcoins for their userbase of over 2.3 million business and user accounts across 182 countries. The easy to use platform offers prebuilt plugins and integrations for all the major ecommerce platforms, including Shopify, Woocommerce and Magento. With hosted wallets, conversion and fiat settlement functionality, CoinPayments leads the way in furthering the adoption of cryptocurrencies.