October 26, 2016
nanoPay announces $10 Million in Series A funding
Funding will help nanoPay expand the MintChip platform worldwide
TORONTO, ON. -- nanoPay Corporation, a secure, real-time payments platform provider, today announces completion of its $10 million in Series A funding. Participants in the financing round include the Merchant Banking Division of Goldman Sachs, APAGM Services LLC (Andrew Prozes), Jarnac Capital Management Inc. and Rohatton Inc. With this financing and the MintChip platform , which nanoPay acquired from The Royal Canadian Mint, nanoPay is actively developing new business partnerships and additional service offerings, focusing on B2B and B2C applications, to expand the global utility and acceptance of MintChip.
MintChip’s open API platform provides an innovative solution to securely store and transfer any form of digital value between users instantly and without the need for intermediaries. With the platform, transactions are final, irrevocable and settled in real-time. The platform uses state-of-the-art cryptography to protect assets and is designed to work both online and offline. In addition to being extremely secure, the platform is cost-effective with marginal transaction costs and was designed to be compliant with regulatory standards around the globe.
“This additional funding is a huge vote of confidence in nanoPay and its ability to prove our global potential,” said Laurence Cooke, CEO and Founder of nanoPay. “ After successfully deploying MintChip as a digital cash platform in Canada in June 2016, our focus is now on expanding the platform beyond digital cash to a broad range of B2B use cases that have global applications, for example, business-to-consumer disbursements and cross-border payments.”
For more information about nanoPay and the MintChip platform, visit https://nanopay.net/ .