Amino Payments bags $4.5m funding led by First Round

Online blockchain-based payments company Amino Payments has closed a $4.5m funding round led by First Round Capital.

Other participants to the round include You & Mr Jones Brandtech Ventures, Nyca Investment Fund, Tessera Capital Partners, LiveRamp founder Auren Hoffman and BrightRoll founder Tod Sacerdoti.

The investment will see First Round founder Josh Kopelman will join the company board of directors.

Amino Payments uses blockchain, payments and advertising technology to help protect online marketing from fraud and boost transparency. The company implements its Amino Wallet which ensures everyone is verified, its Ledger solution then tracks and reconciles all transactions throughout the media supply chain.

The solution keeps an audit trail to help with compliance and helps the correct people get paid when they are owed money.

Capital from the round will be used to support its customer acquisition and growing its revenue. The company is also hoping to expand its current team of 22 staff to 40.

This investment will bring the company total funding efforts to $6.25m, following a $1.75m fundraise last year, according to an SEC filing.

First Round Capital has a range of FinTech companies in its portfolio including payments processing platform Square, which formed a partnership with Eventbrite last year. Other portfolio companies include mortgage loan provider LendingHome, online credit report company Nova Credit, and marketplace lending platform Upstart.

Copyright ? 2018 FinTech Global

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