SEB and other VCs chip in to support Blockchain payment start-up Coinify

SEB Venture Capital and other major investors join the round to support the development of blockchain payment start-up Coinify.

The Danish start-up Coinify, dedicated to blockchain payment services, is attracting bigger and bigger investors. The latest to join the $4 million Series A round was Sweden’s leading bank SEB, as reported by Finextra.

“Coinify has developed a unique platform for blockchain payments and fits perfectly in our portfolio of FinTech investments,” said David Sonnek, head of SEB Venture Capital. “We at SEB Venture Capital really look forward to contribute to Coinify’s future development.”

Mark Højgaard, CEO of Coinify, welcomed the new investor by saying: “The fact that our current investors are joined by a classic, yet very visionary bank dating back to 1856, sends a strong message to both the banking and the blockchain communities.”

Coinify’s investors also include Seed Capital Denmark and local payment company Nets. The start-up plans to collaborate with Nets to create a new lab for the development platforms and services powered by DLT.

As for Seed Capital Denmark, it supports more than 20 PSPs as well as 100,000 digital businesses, and claims to be the leading blockchain payment facilitator in Europe.

Coinify has stated that their funds will be used to expand their services internationally. Højgaard added: “We plan to use this investment to sustain our leading position in Europe and expand our blockchain payment and trade products into Asia.” We will be sure to watch out for the company’s future developments.

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