SNAPCARD announced that they just raised a $1.5M Seed Round led by Tim Draper and Fortress Investment Group-backed Insikt Capital.
Other investors are Crypto-Currency Partners, Great Oaks Ventures, BoostVC, and a long list of prominent Silicon Valley angel investors who helped shape the paths of companies like Square, Twitter, Facebook, Tesla Motors, Groupon, Yelp, and many more.
Ioannis (Yanni) Giannaros, COO and Co-founder of SNAPCARD, said to CCN:
“We’re extremely happy to have such amazing support from our investors. They understand the path which we are taking and believe that we can bring awareness by building the infrastructure with the partnerships that we have lined up. We’ve built the company in a way that it can expand globally – reaching countries that a lot of companies are ignoring at the moment. We we’re partnering with companies that can help us realize this goal.”
SNAPCARD also launched a digital currency payment processor that provides an easy way for the community to use their digital currencies. They included Bitcoin, Litecoin, Dogecoin, and Ripple in the digital currency processor.
SNAPCARD offers merchants instant digital currency refunds, clean and real-time analytics, auto-conversion from digital to local currency, and many other tools for modern day business owners.
Offline retail merchants can use a lightweight POS facility to start accepting digital currencies. The app can be downloaded from Google Play Store. An iOS version is also planned.
– No Volatility: Automatic conversion to local currency. Guaranteed to receive the sales price. Zero volatility added to your business.
– Next-Day Payouts: Charge $100 in digital currency today, receive $100.00 in local currency into your bank account the next day.
– No Chargebacks: Digital currency payments are irreversible. The Bitcoin protocol inherently guarantees it. Eliminate risk and fraud from your operations.
– Real-Time Analytics: You’re able to track orders directly from the application – this is password protected! You’re able to give this application to your employees.
– Gratuity feature built-in
– Multi-Coin: Accept Bitcoin and the Top 3 Altcoins. One solution to open your doors to a fresh environment of new customers.
– Amazing Support: SNAPCARD has world-class, flexible support via live chat, email and phone.
SNAPCARD was founded in 2013 in order to help consumers spend their digital currencies. Their first product was a browser plugin to allow Bitcoin enthusiasts all over the world to spend their Bitcoin wherever they wanted.
Images from SNAPCARD and Shutterstock.