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26/09/19 07:07 UTC-4

Fold raised $2.5 million for cash back payments in BTC

CryptocurrencyFold raised $2.5 million for a new mobile application
Fold raised $2.5 million for a new mobile application

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.

 

See also: "Monex Group distributes Bitcoin to all shareholders"

#cryptocurrency #blockchain #Fold #BTC

Editor: Yuliya Soroka
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