Coinify provides a virtual currency platform that enables trading and payments for consumers, businesses and institutions. The company was founded in 2014 by CEO Mark Højgaard and is based in Copenhagen, Denmark. Coinify has about 30 employees and has previously raised a $4M Series A. It recently secured an additional $4.8M bridge round to support growth. The company intends to use the capital to expand operations in 2018 and to scale the business in specific regions. A B-round was planned for the beginning of 2018. Coinify develops blockchain currency payment processing and trading services for merchants and consumers, serving global payment service providers, online businesses, physical shops and individuals. The company supports 15 blockchain currencies, including bitcoin, ether and ripple. Led by co-founder and CEO Mark Højgaard, Coinify focuses on extending its payments and trade products. Coinify raised funding to sustain and strengthen its position in Europe. The company plans to use the proceeds to expand its blockchain payment and trade products into Asia. The article does not disclose revenue or other financial metrics beyond the fundraising. Coinify provides consumer buy/sell services and merchant payment processing, offering next-day settlement in euros, dollars and kroner and plugins for BigCommerce, Magento, Shopify and WooCommerce. Consumers enroll with an email address and can buy bitcoin via bank deposits or prepaid methods such as CASHU; merchants can log in via Facebook. The company formed following strategic acquisitions of Bitcoin Nordic's broker business and the merchant services formerly offered by BIPS; Coinify will close the Bitcoin Nordic site while BIPS continues as a separate bitcoin-technology development entity. Coinify announced a "multimillion-dollar" venture investment from Denmark-based SEED Capital (SEED said the amount was "several million DKK"); SEED is supported by the Danish Growth Fund. CEO Hans Henrik Heming, an established entrepreneur and bitcoin advocate, framed the new company and said Coinify plans to launch two additional services in the coming months. The company is focused on growing in Denmark, Norway, Sweden and the UK and aims to expand more broadly across Europe, citing the UK and Germany as significant markets; it faces competition from brokerages such as Safello and Coinbase.

Total raised

$9M

Funding rounds

3

Latest round

Equity

Latest activity

Jan 2018