Some great news coming today from SNAPCARD’s camp. The company — which, to date, has allowed users to spend bitcoin virtually anywhere online via a browser plugin (SNAPCARD says users from 40 countries have used their services on over 2,000 websites) — has announced that they have raised $1.5 million in seed funding in a round led by Timothy Draper and Insikt Capital.
Other investors that took part in the round include Crypto-Currency Partners, Great Oaks Ventures, BoostVC, and other Silicon Valley angel investors that have helped shaped popular companies like Square, Twitter, Facebook, and Tesla.
Launching a new product
The big news is two-fold, today. Not only is SNAPCARD announcing the investment, but they’re also announcing the launch of a digital currency payment processing product.
As part of the processing, SNAPCARD will allow merchants to process payments paid with bitcoin, litecoin, dogecoin, and ripple. Merchants will have access to embedded iFrames and a point-of-sale application for Android devices.
Said application can be downloaded from the Google Play Store, and SNAPCARD says a version for iOS devices is “coming shortly.”
As far as the payment processing goes, SNAPCARD touts automatic conversions to local currency, built-in refunds, next-day payouts, and international payouts, for starters.
To make things exciting, SNAPCARD says they’ll be announcing partnerships with merchants “shortly”, additing they are “nothing short of absolutely rockstar.”