Swedish FinTech Stakeholder SEB Invests in Coinify

FinTech

Danish-based bitcoin company, Coinify, has attracted a new FinTech investor, helping to increase its blockchain payment services in Europe.

After joining a $4 million Series A funding round, Swedish banking investor, Skandinaviska Enskilda Banken, also known as SEB, now owns part of Coinify.

According to a report, board members from SEB will also be joining the bitcoin company with SEB’s Stefan Olofsson becoming one of the board of directors and Filip Petersson as the deputy director. SEB also has a voting share of 5 to 9.99 percent in Coinify.

Blockchain Payments

Claiming to be the biggest blockchain payments enabler in Europe, Coinify supports over 20 PSPs, reaching more than 100,000 businesses online.

David Sonnek, head of SEB Venture Capital said that Coinify has a unique position for blockchain payments and that their work is ideal for SEB’s FinTech investments.

He said:

We at SEB Venture Capital really look forward to contribute to Coinify’s future development.

To back this up, Mark Højgaard, CEO of Coinify, recently stemmed any negative press that may have been circulating regarding SEB and its investment with Coinify.

He stated:

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. We plan to use this investment to sustain our leading position in Europe and expand our blockchain payment and trade products in Asia.

Featured image from Vytautas Kielaitis via Shutterstock.