Bitcoin's payment processor, BitPay Inc., announced on Thursday that it was able to raise additional US$2 million from its initial capital growth financing round headed by the Founders Fund.
Max Keiser's Heisenberg Capital, a London-based fund that is engaged with Bitcoin companies, also participated in the round. The provisions of the initial capital growth financing round were not released but 100% of the current initial capital shareholders executed their proportionate rights to uphold their percentage of shares in BitPay.
According to Brian Singerman, Partner at Founders Fund, "eCommerce companies see the tremendous value that frictionless international payments bring to their businesses as they expand into emerging markets. BitPay's ambitions have been global from the outset, and at Founders Fund we have been impressed with the company's tremendous growth as they sign up hundreds of new customers a day, turning the potential for opportunity into a reality."
For the month of April, BitPay added more than 1,900 merchants and maintained to control the Bitcoin payments service by signing up more than 100 new merchants daily. With the use of BitPay's services, an estimated of US$5 million worth of Bitcoins were spent monthly on services and goods with global merchants.
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