Participated · Series A · Sep 2019

Coinme is a Seattle, Washington–based licensed cryptocurrency cash network that offers an enterprise API to crypto-enable legacy financial institutions. Led by CEO Neil Bergquist, the platform enables the simple and secure sale of bitcoin for cash to everyday people. The company powers more than 15,000 locations in the U.S. through partnerships with MoneyGram and Coinstar. Coinme raised an additional $10M in a strategic funding round. Backers included existing investors such as Digital Currency Group. The company said the funds will be used for product and market expansion. Coinme operates a network of cryptocurrency ATMs and kiosks that enable customers to buy bitcoin, including a partnership with Coinstar. Founded in 2014 and based in Seattle, the company has more than 3,500 locations across 27 U.S. states. Transaction volumes have increased by more than 40% since late February. Coinme has 28 employees and expects to grow headcount by about 50% this year. The company says it will use the fresh capital to expand into Latin America and pursue integrations with existing payment platforms. Coinme operates a vertically integrated cryptocurrency platform combining a digital wallet, payment services, and a large bitcoin kiosk network. It powers over 2,600 kiosk locations through a partnership with Coinstar and is building decentralized finance (DeFi) services. The company offers retail-facing products for payments, remittances, and store-of-value use cases, plus Private Client services such as concierge trading, high-volume institutional transactions, and tax-advantaged crypto retirement options like Self-directed IRAs and Solo 401(k)s. Coinme plans to use new funding to obtain additional licenses to operate nationwide in the U.S., expand into key international markets, and continue integrating features into its online wallet to serve retail demand. Founded in 2014 and based in Seattle, Coinme focuses on blending kiosk, wallet, and payment services with decentralized assets.