The Bitcoin payment launch company, Fold, has put together a $2.5 million starter round for a new version of its mobile app with credit and debit card support.
$2.5 million Fold financing
Fold’s recent funding in the first round raised $2.5 million from investors such as Craft Ventures, CoinShares and Slow Ventures.
According to the company, the funds received will be allocated to promote a new mobile application.
"Our new application allows you to receive a cash refund at BTC and keep your data confidential when making purchases in retail stores – this is great news for any Bitcoin fan, privacy or free money" said Will Reeves, CEO of Fold.
Adding: "We are especially excited because Fold also marks the first payment and reward application that uses the lightning-fast Bitcoin network, which makes use instant."
Interesting in the section: With the CEX.IO app, Bitcoin is in your pocket
- It is known that Fold is not the first company to offer a reward for the return of Bitcoin. Lolli, a popular Bitcoin startup, had previously raised funding to provide similar reward services. In July, Lolli CEO Alex Adelman said his firm is gearing up to launch a mobile app.
- Fold serves 1500 users per month and has already completed approximately 35000 BTC transactions since the launch of the first version of the application in 2014.