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Index Ventures, Richard Branson back Bitcoin startup BitPay

13 May 2014

bitcoinVenture capital firm Index Ventures has led a $30m Series A round for Bitcoin startup BitPay.

Horizons Ventures, Founders Fund, Felicis Ventures, RRE Ventures, TTV Capital, billionaire Richard Branson and AME Cloud Ventures also participated in the round. The company has now secured $32.7m, which is the most venture funding raised by a Bitcoin company.

BitPay currently processes $1m of Bitcoin payments per day.

Index Ventures partner Jan Hammer said, “Bitcoin has emerged as the Internet’s payment system of choice and is now a core building block of the future global economy. By enabling thousands of merchants to accept payment in bitcoins quickly, safely and seamlessly, BitPay is already the proven and trusted winner in this space.

“Tony, Stephen and the team have achieved a fantastic amount with scant resources, and the combination of the huge market opportunity, the quality of the talent and this fresh injection of capital, will surely propel them to success on a global scale.”

Earlier this year Index invested in EDITD, which provides real-time market data and analytics for the fashion industry.

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