Canadian payments firm nanoPay has raised $10m in Series A funding from investors including Goldman Sachs’ merchant banking division.
The round also saw participation from APAGM Services, Jarnac Capital Management and Rohatton.
The Toronto-based company’s MintChip platform offers an open API designed to securely store and transfer digital value between users instantly without the need for intermediaries.
The platform uses cryptography to protect assets and can be used both online and offline to enable banks, payment services providers and businesses to run low-cost, real-time payment applications.
nanoPay acquired MintChip from the Royal Canadian Mint in 2015.
The company says it will use the capital to forge new business partnerships and service offerings for B2B and B2C applications.
nanoPay’s CEO and founder Laurence Cooke said, “After successfully deploying MintChip as a digital cash platform in Canada in June 2016, our focus is now on expanding the platform beyond digital cash to a broad range of B2B use cases that have global applications.”
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