Bitcoin payment processor Coinify receives $4 million in Series A funding, with participation from Swedish banking giant

Danish digital currency payment processor Coinify has received $4 million in Series A funding, led by Swedish banking giant SEB Group.

Other investors include a Danish venture capital firm called SEED Capital and an investor from a bitcoin startup.

Founded in 2014, Coinify already supports 15 digital currency payment methods. According to a statement, the company plans to use the new funds to expand its payment and trading services from Europe to Asia.

David Sonnek, head of SEB Group, commented on the investment:

“Coinify has developed a unique platform for blockchain payments that fits perfectly with our FinTech portfolio. We look forward to contributing to Coinify’s future growth.”

It is reported that Coinify's last round of financing took place in 2014. The seed round of financing at that time was also said to be millions of dollars, but the exact amount was not disclosed.

According to Danish fintech news site Finsanswatch, SEB Group’s Stefan Olofsson and SEED Capital’s Lars Andersen have joined Coinify’s board of directors, while SEB Group’s investment manager Filip Petersson will now serve as deputy director of Coinify.

In addition, SEB Venture Capital Fund reportedly holds between 5% and 9.99% of Coinify’s shares.