BTC processor Bitnet Technologies specialized in providing cryptocurrency payment services to major enterprises announced closing of the first round of financing.
Of the total $14,5 million investments, the biggest share belongs to Highland Capital Partners, which resulted in Highland’s CEO Peter Bell joining the management board of Bitnet.
Other participants of the first round included Bitcoin Opportunity Corp., FinTech, Rakuten, Webb Investment Network, as well as private venture capitalists.
Bitnet plans to spend the money received on several projects. Their major priority is the development and launch of the new global payment platform. Other growth directions include expanding the company’s business into European and Asian markets of processing services (at this stage, Bitnet operates in the US and Ireland only), and creating the team of sales, marketing and customer support specialists. Currently, there are 27 employees in Bitnet with many years of experience in the technical field.
The BTC processor intends to spend most of the funds provided by the investors on the launch of their new universal bitcoin-commerce payment network platform which will have all the benefits of digital currency: low commission fees, global availability, lack of volatility, security and advanced fraud protection. According to Bitnet team, their new unique platform will provide top-level reliability and functionality, and address the needs of traders, developers and partners.