BitPay Expands Seed Funding

BitPay, Inc., an Atlanta, GA-based developer of bitcoin payment processing solutions, has expanded its seed funding (read here about the recently announced $510k round).

The startup has added Ben Davenport, Trace Mayer, and A-GRade Investments to previsous angels Shakil Khan, Barry Silbert, Jimmy Furland, Roger Ver and others.

Started in 2011 by CEO Anthony Gallippi 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. It allows business to accept payments from any country amd offers the opportunity of having the bitcoins automatically converted to their local currency, and deposited into their bank account with a guaranteed exchange rate.
BitPay provides several bitcoin payment tools including the Payment Gateway API for bitcoin, and plugins for eCommerce platforms such as WordPress and Magento.
It now has over 3,200 merchants using its platform to accept bitcoin payments.



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