European digital currency sector has grown stronger with acquisition of Dustch Coinzone by Danish Coinify that took place earlier this week. The new partnership is expected to create new opportunities and help accelerate Coinify’s expansion strategy in important markets. In particular, the deal will help strengthen Coinify’s presence in France, Germany, Spain, Italy and Romania, and the recent market entries in the U.K., the Czech Republic and Poland, where Coinzone has been most active.
Coinify has previously been very active with acquisitions as a method for achieving growth, stated in company’s press-release. In September 2014, when the company secured a multi-million capital injection by SEED Capital and Accelerace Invest, Coinify unified consumer and merchant services by purchasing technologies and the customer base from the trade platform Bitcoin Nordic and merchant services pioneer Bitcoin Internet Payment System.
According to Manuel Heilmann, CEO of Coinzone, the deal with Coinify was interesting for Coinezone because of Coinify’s strong financial management team and supportive investors behind it, all of which give good perspective for future growth. Meanwhile Coinify is preparing for a series A investment to accelerate the expansion even further.
“Coinify is taking the lead in the current battlefield with a strong belief that Coinify will be among the top players in the world dealing with cryptocurrency infrastructure for online merchants through a PSP tailored solution. The Coinify team has done an amazing job, pushing past milestones and achievements beyond our expectations,” shared Richard Breiter, SEED Capital.
