Investors in a Slovenian start-up are banking on cryptocurrency going mainstream.
A Slovenian cryptocurrency start-up has raised four million euros in a funding round led by Roger Ver through Bitcoin.com, giving the firm a 50 million euros valuation.
The start-up, Eligma, was founded in 2017 and creates payment infrastructures that allow local and online stores to accept instant cryptocurrency payments though its network, GoCrypto.
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The newest funding round comes just over a year after Eligma secured four million euros – also from Bitcoin.com in a round that also included the Swiss investment firm Pangea Blockchain Fund.
Through the GoCrypto platform, merchants can accept crypto payments without changing their business process. The platform generates a QR code which buyers scan with their cryptocurrency wallet and once the transaction is confirmed, the merchants receive settlements exchanged in their local currency.
Eligma has already connected its platform with the largest payment processors and, through various partnerships, offers a unique solution of processing any payments such as card, digital, and crypto.
Worldwide, GoCrypto covers more than 60,000 locations in 64 countries has seen more than 150 million users.
GoCrypto says that it shares with Bitcoin.com the same goal of bringing cryptocurrencies into the mainstream and revolutionising the world of payments.
Next up for Eligma is the idea of “tokenomics”, a model that is not connected just to crypto payments but also to traditional payment methods, excluding cash.
“New, holistic technology will bring the world of payments to a whole new level, where shoppers will be able to use diverse fast (and often contactless) payment methods, and where merchants will benefit from a smooth and effortless sales process regardless of how the customer selects to pay – by using an all-in-one solution,” the Eligma team says.
Eligma also operates a multifunctional cryptocurrency wallet called Elly which allows users to send and receive crypto payments through the app as well as send money to other crypto wallets.
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