Bitcoin merchant services provider Coinify ApS has raised $4 million Series A in a round led by SEB Venture Capital that included SEED Capital Denmark.

Founded in 2014, Coinify offers a blockchain payment service platform with a focus on extending blockchain currency payment processing and trading services to merchants and consumers respectively.

The company’s platform allows merchants to accept 15 blockchain-based cryptocurrencies (including bitcoin) delivering what the company describes as unrivaled benefits in terms of reducing payments’ cost and risk, as well as increasing speed of payments.

Partners include iPayDNA International Ltd. who use Coinify’s services to deliver merchant services throughout the Asia-Pacific region, and Bitcoin Vietnam, who uses the platform to offer seamless integration with a merchant’s current online ordering services via a custom API or plugin, as well as  integrating with Point-Of-Sale applications utilized by merchants who have brick-and-mortar shops; other partnerships include a deal Digix to offer digital assets on Ethereum network, financial brokerage services Hello-Markets and the provision of services to Payssion.

“Coinify is a blockchain payment company with the mission to bridge the gap between emerging blockchain and traditional finance industries,” Coinify Co-founder and Chief Executive Officer Mark Højgaard said in a statement sent to SiliconANGLE. “The fact that our current investors are joined by a classic, yet very visionary bank dating back to 1856, sends a strong message to both the banking and the blockchain communities.”

Expansion

Although not yet a household name Coinify has continued to impress with its ongoing expansion into all four corners of the globe with a versatile product that caters not only to bitcoin payments but across the cryptocurrency spectrum, something many similar companies catering to bitcoin merchant services don’t offer support for.

Including the new round, Coinify has raised $4.5 million to date with previous investors including Accelerace and Seed Capital.

The company sad it planned to use the new money to sustain their leading position in Europe and expand their blockchain payment and trade products into additional Asian markets.

Image credit: Coinify