This is sure turning out to be a good week in bitcoin investments! Just announced this morning is the news that Bitcoin Shop, Inc. has strategically invested $1.5 million (Series A) in GoCoin, a leading payment processor in the digital currency sector.
Bitcoin Shop operates as a virtual currency marketplace, and the investment comes from the company’s CEO Charles Allen, COO (and Chairman) Michal Handerhan, former Facebook COO Owen Van Natta, Crypto Currency Partners, and others.
“Bitcoin Shop is an ecommerce platform that delivers a seamless digital currency shopping experience for its customers. Our investment in GoCoin’s leading international payment processing platform is complementary to our business model,” said Charles Allen.
“The partnership diversifies our risk profile through access to a greater number of retailers who accept digital currencies with GoCoin. Together, we are enabling customers the ability to use the growing number of virtual currencies when shopping on our site by leveraging GoCoin’s enhanced payment platform. Once fully integrated, we will offer a best of breed, one-stop-shop user experience. We are excited to be leading this round of investment in GoCoin and their team.”
The financing includes more than $500,000 of converting promissory notes from Andrew Frame, David Neuman, and more.
The Bitcoin Shop will also be utilizing GoCoin’s payment processing for their marketplace, and despite the name, they’ll be accepting litecoin, too.
“User demand continues to grow for alternative payments,” Owen Van Natta said. “I’m excited to deepen my involvement with GoCoin and their best-in-class payments solution for merchants and game publishers.”
Said Steve Beauregard, founder and CEO of GoCoin:
“We’ve had an international multi-currency focus since day one, and this investment will help extend our global footprint and take our services to the next level.”