Bitnet Lands $14.5 Million Series A Funding to Rival Coinbase, BitPay
A group of traditional payments veterans has raised $14.5m to launch Bitnet, a bitcoin payments processor that aims to entice the largest merchants in the world to accept bitcoin. Led by Highland Capital Partners, Bitnet's Series A round also included Rakuten, Japan's largest e-commerce site. Notably, Rakuten is not only providing funding, it will use Bitnet's bitcoin payments software. John McDonnell, CEO of Bitnet, told CoinDesk the company has an enterprise-level platform for large retailers to begin accepting bitcoin and that it expects its offering to compete against established....
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Coinbase is rumoured to be in the midst of another funding round, attempting to raise up to $60m with a company valuation of $400m. The US-based company, which provides bitcoin wallets and merchant services, is expected to take on investment from venture capital firm DFJ and is looking to raise $40-60m, according to Re/Code. CoinDesk has contacted Coinbase, but is yet to receive a response. DFJ has declined to comment. Back in December, Coinbase raised $25m in a series B round, led by Andreessen Horowitz, bringing the total amount raised by the company to $30m. An article by TechCrunch....
Bitnet Technologies, a digital commerce platform enabling enterprise-scale merchants to accept Bitcoin payments, announced it has closed a $14.5 million Series A funding round led by Highland Capital Partners. Also read: Acromobile And Bitnet Enable Mobile Merchants to Easily Accept Bitcoin Payments. Another new investor is Rakuten, the largest e-commerce site in Japan and one of the world's largest by sales. The funding comes as Bitnet launches its platform and builds international teams for sales, marketing and customer support in North America, Europe and Asia. Bitnet co-founder & CEO....
Amazon competitor Rakuten is launching the Rakuten Blockchain Lab (RBL) in Belfast, UK, to explore potential applications for blockchain technology in fintech and e-commerce. Rakuten Sets Up Blockchain Lab. The establishment of RBL stems from Rakuten’s earlier investment in Bitcoin wallet and payments software firm Bitnet, a startup notable for its....
Bitnet Technologies is the latest company in the cryptocurrency/bitcoin sector to close a significant round of funding, according to a Monday morning announcement. The company, which focuses on allowing enterprise-scale merchant to accept bitcoin payments, has raised a whopping $14.5 million in Series A funding led by Highland Capital Partners. Rakuten, the largest e-commerce service in Japan (whose U. S. division recently began accepting bitcoin), also took park in the round, today's announcement says. Other participants include: Webb Investment Network, Bitcoin Opportunity Corp.,....
This morning BitPay, one of the industry's largest business and payment solutions providers, announced some very big news, bringing sizable implications for the future of Bitcoin as both a payment method and emerging technology. The company announced what has become the record for funding of any business in the Bitcoin space. Led by international venture capital firm Index Ventures, BitPay has raised $30 million in Series A, bringing their astronomical grand total of $32.7M in funding. The round of funding further solidifies the company's continued growth, innovation and outreach which has....