BitPay Closes $510K Seed Funding

BitPay, Inc., an Atlanta, GA-based provider of bitcoin payment processing solutions, closed a seed funding of $510k.

Investors included Shakil Khan, Barry Silbert, Jimmy Furland, Roger Ver, who paid his investment contribution using bitcoins, and other angel investors.

The company intends to use the capital to open their Technology Center in Atlanta, move their headquarters to Atlanta, and hire additional employees.

Co-founded in 2011 by Anthony Gallippi, CEO, and Stephen Pair, BitPay has developed a suite of software tools that allow businesses to collect payments over the bitcoin peer-to-peer payment network. Using BitPay, a business can accept a payment from any country, instantly, with zero risk of fraud, a capability that is not possible with any payment processor today, including PayPal, American Express, Mastercard, or Visa.
In November of 2012, began accepting bitcoin payments using BitPay’s payment gateway API.
In addition to the payment gateway API, BitPay offers simple “buy now” buttons and payment plugins for the most common eCommerce shopping carts such as Magento, WordPress eCommerce, Woocommerce, OpenCart, and Virtuemart.
The company’s invoices have multiple language support including Danish, Finnish, German, Greek, Hebrew, Japanese, Korean, and Spanish.



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