Start-up raises $14.5m for bitcoin payment system

bitnet_bitcoin23 Oct 2014 / Irish Times – Irish financial technology company Bitnet Technologies, which has developed a digital commerce platform to enable merchants to accept bitcoin payments, has raised $14.5 million in venture capital funding.

The Series A funding comes as Bitnet also plans to expand its physical presence into continental Europe and Asia.

The funding round was led by Highland Capital Partners, and Highland partner Peter Bell, will join Bitnet’s board of directors.

“Bitnet is breaking down the barriers of digital currency transactions and has the potential to transform the way we exchange goods and services around the world,” Mr Bell said.

Founded in January 2014 by John McDonnell and Stephen McNamara, Bitnet is comprised of 27 payments industry veterans. Bitnet’s engineering, product, and business development team previously helped build and manage the world’s largest payment gateway, CyberSource, which was sold to Visa in 2010 for $2 billion….. Read more

Follow Twitter

Exchange Rate