Danish Blockchain payment service provider (bPSP) Coinify raise $4 million in series A investment round from SEB Venture Capital, an entity within the SEB Group and SEED Capital Denmark.
Support for Danish Coinify comes from investors SEED Capital Denmark and SEB Venture Capital, both originating in the Nordic region. SEB Venture Capital has activities spanning across the Nordic and Baltic countries. ”Coinify has developed a unique platform for Blockchain payments and fits perfectly in our portfolio of FinTech investments. We at SEB Venture Capital really look forward to contribute to Coinify’s future development,”’ says David Sonnek, Head of SEB Venture Capital.
SEED Capital Denmark first invested in Coinify back in 2014, while this new investment comes from their newly established 3rd venture fund. The Blockchain has proved to be a resilient technology.
Lars Andersen, General Partner in SEED Capital Denmark, says:
”We believe that digital currencies and the Blockchain technology have the potential to spawn decades of disruptive innovation in financial services. Coinify has a good foothold in the market and with this particular syndication they are well-positioned to play a key role in the transformation ahead.”
Mark Højgaard, Co-Founder and CEO of Coinify says:
“Coinify is a Blockchain payment company with the mission to bridge the gap between emerging Blockchain and traditional finance industries. 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. We plan to use this investment to sustain our leading position in Europe and expand our Blockchain payment and trade products into Asia.”
Blockchain payment technologies offer merchants and consumers unrivalled benefits in terms of reducing payments’ cost and risk, as well as increasing speed of payments. Coinify’s payment and trade services offer businesses and individuals easy access to Blockchain currencies through fiat money exchange. Presently supporting 15 Blockchain currencies (including bitcoin, ether and ripple), Coinify are amongst the most versatile companies in the industry, ready to embrace new competitive Blockchain currencies as they evolve.
SEB is a leading Nordic financial services group. As a relationship bank SEB, in Sweden and in the Baltic countries, offers financial advice and a wide range of other financial services. In Denmark, Finland, Norway and Germany the bank’s operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB’s business is reflected in its presence in some 20 countries worldwide.
At June 30 2016, the Group’s total assets amounted to SEK 2,677 billion while its assets under management totalled SEK 1,657 billion. The Group has about 15,500 employees. SEB Venture Capital is the corporate venture capital unit within SEB. Read more about SEB at www.sebgroup.com and about SEB Venture Capital atwww.sebgroup.com/venturecapital.
SEED Capital is the largest venture capital fund in Denmark for the pre-seed and seed segment with $320 million under management. SEED Capital specializes in identifying and developing new and innovative technology companies. SEED Capital sold high-profile startup Endomondo in February 2015, and in addition to Coinify, has Trustpilot, Vivino, Templafy, Lunar Way and 70+ companies in its portfolio of companies. For more information about SEED Capital, visit www.seedcapital.dk.