Bitcoin Startup Purse Raises $1 Mln In Seed Funding

Purse.io, a San Francisco-based peer-to-peer service provider that connects users across the globe through decentralized commerce, has raised $1m in seed funding in a round led by investor Barry Silbert’s Digital Currency Group, CoinDesk reported.

It is a latest funding round for the start-up and follows a $300,000 seed round finalized in November 2014. CoinDesk reported that the company also announced a forthcoming "secret bitcoin project" it calls Tritium, which would bring “new value to consumers and partners”. Purse did not reveal any further details about the project, but is probably considering expanding its e-commerce model.

Purse operates a two-sided e-commerce marketplace that offers heavy discounts to Amazon shoppers willing to make payment in bitcoin as well as allows exchanging gift cards for digital currency. Last month, the startup added new merchants to its platform, thereby offering products including Trezor and Ledger hardware wallets at a discount on its market.