SatoshiPay grabs £700,000 for bitcoin micropayments

Bitcoin-based nanopayments solution SatoshiPay has raised £700,000 in a new round led by Blue Star Capital.

The startup aims to help content providers monetise their digital assets through small payments as low as 1¢ for access to content such as articles, images or videos.

Based in Berlin, the company was part of Deutsche Telekom’s incubator hub:raum and Axel Springer Plug and Play.

SatoshiPay recently announced a partnership with Visa Europe to connect the firm’s infrastructure with SatoshiPay’s wallet.

Blue Star Capital says the funding is part of a €1m round which if completed will give the investor an 11% stake in the startup.

SatoshiPay will be valued at €6m at the round’s close.

Blue Star CEO Tony Fabrizi said: “We are delighted to be investing in SatoshiPay at this exciting stage in its development.

“We believe the market opportunity for SatoshiPay is potentially vast and we look forward to working with SatoshiPay’s management to help maximise this opportunity.”

The company has now raised more than $850,000 in funding total funding.

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