Categories: Bitcoin Entertainment

Liberty Teller Rebrands itself as LibertyX, Raises more than $400,000 in funding

Click here to view original web page at www.forexminute.com

Liberty Teller has rebranded itself as LibertyX now and willing to expand further and for that purpose it even raised more than $400,000 in funding from early-stage VC firm Project 11. The company not just changed the name but the nature of service as well. Earlier it was operating a small fleet of Bitcoin ATMs in the greater Boston area, now providing in-person Bitcoin buying network supported by 2,500 US merchants.

Regarding the fundraising, talking to media professionals, co-founder Chris Yim told that the capital will be used to grow the LibertyX team, which today consists of just three employees, while expanding its presence in the US. He admitted that his company has bootstrapped everything to-date and he is proud of what it has accomplished with just the three of people.

According to Chris Yim the funding round will allow the company adds staff to help address the growth it is experiencing across the board. He informs that the company put the funding to use since it was completed on 22nd December. The first step that it took was to hire a dedicated CTO to the team and willing to expand more staff this year.

Interestingly, the company is formally registered under the name Moon. According to an SEC filing for the deal reveals the total funding received was $404,104. Now that LibertyX has joined additional Project 11 portfolio companies including online catering company Phoodeez, location analytics company Locately and electronic tipping startup DigJar; it will reach to new people.

Funds to be used for hiring new staff

Operational for roughly one year, LibertyX has ambitious plans wherein it is trying to expand globally. The company benefited from its early and timely entrance into the Bitcoin market as it launched the second Bitcoin ATM ever installed in the US in Boston’s South Station last February. The company set trend in Bitcoin ATM installation as today there are dozens of them.

Not just Bitcoin ATMs, LibertyX is also reaching to new people with initiatives; for instance it struck key partnerships both as a graduate of the MassChallenge startup accelerator and a partner of transaction processing specialist Qpay. The partnership according to the firm will enable the company reach an extensive network of retail partners in its home market.

Nonetheless, as LibertyX has quickly expanded beyond owning and operating four Bitcoin ATMs, it now wants to expand further with more staff. The fundraising is to meet the expansion cost and pay for the new staff to be hired.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com

Regarding the fundraising, talking […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama
Tags: mediaone

Recent Posts

Everyone’s Worst Fears About EOS Are Proving True

The Takeaway: EOS is the world’s seventh-largest blockchain by market cap, with a value topping $3 billion since February 2019.… Read More

3 hours ago

Street Artist Makes $12,000 in Bitcoin Donations

A French street artist best known for painting lady liberty leading the yellow vests has stated he has received more… Read More

4 hours ago

Wave Financial Launches World-First Bitcoin Yield Fund: Wave BTC Income & Growth Digital Fund

LOS ANGELES, Sept. 19, 2019 /PRNewswire/ -- Wave Financial LLC (Wave), a leading asset management firm focused on digital assets,… Read More

4 hours ago

Nigerian man returns bitcoins worth $80,000

Keith Mali Chung returned Bitcoins worth $80,000 mistakenly transferred to him. A Nigerian man who found $80,000 dollar's worth of… Read More

4 hours ago

Bitcoin Surrenders Post Fed Rate Cut; Pullback Awaited

Bitcoin slipped below $10,000 on Thursday after the Federal Reserve cut benchmark lending rates by 25 basis points.The BTC/USD instrument… Read More

4 hours ago

Bitcoin Hashrate Hits All-time High as Price Dwindles

The benchmark metric of miners confidence in the Bitcoin network established its all-time high on Thursday.Hashrate, which reflects the processing… Read More

4 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More