Radpay completes $1.2M seed funding round for blockchain based payments technology

Image Source: yahoo.com
Radpay, a blockchain based, peer-to-peer payment processing company, said it completed a $1.2 million series seed round, which reflects a 20% oversubscription, reflecting greater-than-expected investor interest.

The funding was led by Resiliency Ventures and BlackLaunch as well as unnamed investors from Nebraska and Arizona. The new funding carries a $10.2 million post-money valuation — the company’s worth after the new funding — and represents the first amount of outside funding since the company was founded in July 2018.

Radpay officials said the funding will be used to commercialize its technology, expand marketing to e-commerce and retail merchants and further develop its inventions in blockchain, digital wallets and payments.

“Our company was built on the premise that accepting charge cards need not cripple merchants with high fees and that using charge cards need not saddle consumers with crippling debt,” Dana Love, CEO of Radpay, said in a company release. “Since our founding in 2018, we have led the pack in innovating on behalf of e-commerce merchants.”

He said the funding will help the company bring transparency, innovation and value to what he calls a stagnant payments processing industry.

CTO Jared Stauffer said that the company’s customers will begin testing its technology in January, according to the release.

Eric W. is a self-educated ghost writer who for the past seven years has been involved in Blockchain, Cryptocurrency, and Digital advertising sectors as Project Director, Miner, and NRA (Network Resource Application).

Contact Eric

Comments

Recommended Stories

Ethereum Search Interest Hits Near Three-Year Low as Price Struggles to Hit $150

Blockstream Spat with Journalists Attracts Negative Attention on Both Sides

ODEM: Employs Blockchain to Disrupt Education

Blockchain App ‘Smashboard’ Offers Help for India’s Sexual Abuse Victims

Bitcoin Cash Represents 93% of November's Crypto Spending in Australia

Last chance to save: Late registration to Disrupt Berlin 2019 ends tonight

William Shatner Enters Crypto to Digitize Collectibles and More!

France Makes Move to Adopt Digital Currency

Blockchain UseCase Applied to Electrical Industry