Danish currency platform Coinify have recently received millions in funding from Danish venture fund SEED Capital. The funds are expected to help elevate the firm’s position in the European market: maybe even putting them in a whole other league.
Coinify, which offers anyone the opportunity to buy and sell Bitcoin, as well as accept Bitcoin payments, has been integrated into several e-commerce stores including Magento, WooComerce, BigCommerce, and Shopify, making it easier for customers to use Bitcoin in their daily life.
The funds have already been put into good use with several acquisitions made by Coinify which will surely aid them in reaching new heights within the European market. Amongst these, the firm has snapped up Bitcoin Nordic, hailed as one of Euorpe’s first digital currency brokers. Also on Coinify’s list of recent purchases are the intellectual property rights to payment gateway technology and merchant relationships from Bitcoin Internet Payment System, the Copenhagen based firm specializing in making cryptocurrencies seamless.
The Bitcoin Bandwagon
The Danish startup field seems eager to snap up the Bitcoin craze; just this summer Hungry.dk bit into the craze by allowing customers to order and pay for food online using the currency.
SEED Capital’s recent investment in Coinify makes them the first to invest in the digital currency market.
SEED Capital investment manager Richard Breiter shares Denmark’s enthusiasm and optimism regarding the potential of Bitcoin:
“The internet protocol revolutionised the way we communicate, and the Bitcoin protocol can revolutionise the way we transfer unique digital assets from one internet user to another. Potentially all transactions could in the future be done in virtual currencies. That is a development we have to be a part of, and at SEED Capital we are comfortable being at the forefront of technological development.”
Passengers of the Bitcoin Bandwagon are as excited about the course this currency will take. If you’re on of these, make sure you check out ArcticStartup’s cover of the story.