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12 Jan '13, 11am

Largest Bitcoin Payment Processor Raises $510,000 Angel Round

http://www.forbes.com/sites/jonmatonis/2013/01/07/largest-bitcoin-payment-processor-raises-510000-angel-round/ BitPay, Inc. announced today that they have completed a seed funding round of $510,000 from several angel investors demonstrating that bitcoin can attract the capital necessary to encroach upon legacy payment methods. Similar to merchant processors for credit and debit cards, BitPay is a Payment Service Provider (PSP) specializing in eCommerce, B2B, and enterprise solutions for virtual currencies. Investors participating in the seed round include SecondMarket founder Barry Silbert , Spotify investor Shakil Khan , Jimmy Furland, Roger Ver , and other Internet entrepreneurs. Specific terms of the deal were not disclosed but co-founders Anthony Gallippi and Stephen Pair will retain majority ownership. Investors Silbert and Ver also participated in the April 2012 fund...

Full article: http://themonetaryfuture.blogspot.com/2013/01/largest-bit...

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