GoCoin, a Singapore and Santa Monica, CA-based open platform to facilitate the purchase of goods and services bought with Bitcoin, raised over $550k in a seed round of funding.
The company intends to use the funds to bring its platform.
Backers include global investors from Silicon Valley, Silicon Beach, Asia and Europe, including:
– Owen Van Natta, former COO/CRO of Facebook and a seven-year Amazon executive
– Andrew Frame, founder and CEO of Ooma
– BitAngels, the first nationwide angel network for Bitcoin startups
– Stephens Investment Management
– Mikael Pawlo, CEO of Mr Green & Co AB and co-founder of Maltese online casino Mr Green LTD, through his investment company, Derzhava Holdings LTD
– Jonathan Congdon, co-founder and President at Beachbody LLC (marketers of P90X and other fitness brands)
– Ruvento Ventures, a Singapore/Russian venture capital firm
– Ronnie Wee, Managing Partner, IncuVest Pte. Ltd, a Singapore VC firm
– Gary Stiffelman, Partner at Los Angeles entertainment law firm Ziffen Brittenham LLP
– Demarest Ventures
– David Neuman, Owner, Blackrock Productions; former President, Current TV; former Media & Chief Programming Officer, CNN; former President, Walt Disney Television and Touchstone Television.
Founded in July 2013 by CEO Steve Beauregard and chairman of the board Brock Pierce, GoCoin has been developing its technology with engineers in Singapore, Argentina and the U.S. and is currently in testing with its first merchants in private beta. It plans to officially launch publicly in November with an initial focus on Asian and South American countries. In terms of market verticals, GoCoin will initially focus on providing Bitcoin payment processing for e-commerce, digital content and interactive/social gaming companies.