Radpay, a Phoenix, Arizona-based decentralized global payment processing company, closed a $1.2m seed funding round.
Backers included Resiliency Ventures and BlackLaunch, as well as investors from Nebraska and Arizona.
The company intends to use the funds to commercialize technology, expand marketing to e-commerce and retail merchants, and further develop its portfolio of novel inventions in blockchain, payments, and digital wallets.
Led by CEO Dana Love, PhD., and CTO Jared Stauffer, Radpay provides an Ethereum blockchain-based patent-pending merchant card payment solution. It is peer-to-peer payment processing and reward framework, where peers may be merchants, consumers, banks, or enterprises.
Radpay works in both card present and card not present environments, which means retail merchants, ecommerce merchants, mobile merchants, call centers, and app developers can all access and benefit from its rewards system, transactional engine, and value.