Twitter, Tim Draper and others invest $ 20 million in Bitcoin-focused opennode
Twitter, Tim Draper and others invest $ 20 million in Bitcoin-focused opennode
- The round was cited by the Kingsway Capital company based in Great Britain
- "The investments are an allusion to people who are sought as great investors and look at the future of global payment transactions," Josh Held, Head of Strategy at Opennode, told Blockworks
The Bitcoin payment processor and infrastructure provider Opennode completed an oversubscribed series A of $ 20 million and reached a rating of $ 220 million on Wednesday, the Blockworks company said.
The round was led by the Kingsway Capital company based in the UK with investments by Twitter, Tim Draper and Avon Ventures - a risk capital fund that is connected to the parent company of Fidelity Investments.
"The investments are an allusion to people who are sought as great investors and look at the future of global payment transactions," Josh Held, Head of Strategy at Opennode, told Blockworks.
"For us it underlines the confidence that Bitcoin is the new base layer for global payments."
The funds are used to continue to invest in security, compliance, marketing and support his engineering teams, said Held.
The company founded in 2018 focuses on building a Bitcoin and Lightning Network payment infrastructure to accelerate its growth and acceptance. It offers Bitcoin payment solutions such as e-commerce plugins for optimizing APIs for companies and platforms such as Z Shopify and OpenCart .
"Digital currencies worldwide encourage more people to participate in the economy, with less friction," said Ester Crawford, Group Product Manager on Twitter, in an explanation.
The company experiences a “significant growth phase” and has determined an increasing demand for multinational companies and platforms, Held stated. "So that we could keep up with this demand, we needed the human capital to continue to clarify in this area, to create applications and ultimately to create experience for payment companies, stock exchanges, digital wallets and other users," he added.
According to his website, Opennode currently offers services in over 120 countries for over 14,000 users. Held did not want to say how many users want to reach the company in 2022.
Openode aims to use the Lightning network in order to continue to supply payment processors with electricity, and plans to concentrate on the addition of a wallet in order to further support the exchange.
"With the wallet we will strengthen our skills with things like accounted with account -linked debit cards, adding additional local currencies and billing options and much more," added Held.
In the future, the company also plans to expand its reach beyond the Bitcoin and crypto ecosystem and to clarify others about how this market is developing and how they can get involved, said Held."We intend that this platform serves a number of companies, platforms and people around the world," said Held.
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The contribution Twitter, Tim Draper and Other's Invest $ 20m Into Bitcoin-Focused Opennode is not a financial advice.