SatoshiPay, a London, UK-based nanopayments software developer, raised €360k in funding.
The round was led by Coinsilium Group (COIN:ISDX), which made a €200K investment with participation from FastForward Innovations (formerly Kuala Innovations) which committed the remaining €160K.
The company intends to use the funds to continue to build the product.
Led by Meinhard Benn, SatoshiPay leverages blockchain technology for the monetization of Internet content enabling ‘pay-as-you-consume’ model. Its two-way payment platform sits on a user’s web browser and enables online content providers to monetize their digital content through the acceptance of nanopayments (payments of 10c or less per individual transaction). Through SatoshiPay, which works without software download or sign-up for the user, consumers can pay to consume online content on a per article, per view, per song or per download basis. Payments are instant and the user’s digital wallet balance is available on each website that integrates the software.