Radpay Blockchain Payment Processor raises $1.2M in Seed Round
Decentralized payments processing firm Radpay has secured $1.2 million. The round reflected a 20% oversubscription and gave the Phoenix-based startup a $10.2 million post-money valuation. Participants included Phoenix-based investment firms Resiliency Ventures and BlockLaunch as well as investors from Silicon Valley, Nebraska, and Arizona.
According to a press release published on Nov. 18, Radpay completed a $1.2 million series seed round that indicating a 20% oversubscription. The firm saw financial support from various Silicon Valley investors; Phoenix-based investment firms Resiliency Ventures and BlackLaunch; and investors from Nebraska and Arizona.
Furthermore, Radpay is planning to dedicate the raised funds to the company’s further development. This includes commercialization of its technology; expansion of its products to e-commerce and retailers, as well as the ongoing development of the company’s products; focused on blockchain, payments, and crypto-wallets.
Moreover, Dana Love, Radpay’s co-founder and CEO said:
“Our company was built on the premise that accepting charge cards need not cripple merchants with high fees and that using charge cards need not saddle consumers with crippling debt. Since our founding in 2018, we have led the pack in innovating on behalf of e-commerce merchants. This additional capital, along with our extensive industry and customer partnerships, sets us on a course that will bring transparency, innovation, and value to the stagnant payment processing industry.”
Additionally, the $1.2million funding round represents Radpay’s first-ever outside funding. .
Investment Focus on to Payment Projects
Also, earlier today Lagos-based fintech firm Opay had secured $120 million in a Series B financing round from a host of high-profile Chinese investors. OPay reportedly intends to use the funds to scale and expand its digital payments solution beyond Nigeria to Kenya, Ghana and South Africa.
In conclusion, Australian crypto company DigitalX Ltd. is launching a Bitcoin (BTC) fund. It will be seeded with roughly $1.9 million of its holdings in cryptocurrency.
About The Author
Mary BrendahMy first love is music – then goes writing. I don’t write fiction, I analyze bulls and bears in markets. I call it my jungle, the digital jungle of crypto and chains.
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