Singapore-based GoCoin announced that it had secured USD 550,000 for its seed funding round. The capital commitments came from global investors like Stephens Investment Management, Ruvento Ventures, Demarest Ventures and BitAngels. Former Facebook COO/CRO Owen Van Natta and Ooma Founder and CEO Andrew Frame also supported the round. Mikael Pawlo, through his investment firm Derzhava Holdings, as well as Beachbody Co-Founder and President Jonathan Congdon also participated in the financing. Investors Ronnie Wee, Gary Stiffelman and David Neuman also supported GoCoin.
GoCoin is an international platform that allows online and retail merchants to facilitate payment processing of the digital currency Bitcoin. The company would first concentrate its services in countries in Asia and South America. It would initially offer payment processing for companies in the e-commerce, interactive or social gaming and digital content space.
GoCoin Co-Founder Steve Beauregard would be heading the firm as Chief Executive Officer. Brock Pierce, a gaming pioneer, would be heading GoCoin's board of directors as Chairman.
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