Bitcoin payments provider Paymium raises €1 Million

Paymium, a pioneering Bitcoin services start-up founded in 2011, is the first European bitcoin marketplace compliant with EU regulations on payment services. It offers solutions for merchants and payment processors enabling them to accept payments in bitcoins, while avoiding currency risk and lowering transaction costs.

The start-up has recently announced in a press release that it raised 1 million euros with new funding from Kima Ventures, Newfund, Galitt a group of business angels. The funds raised would be used to accelerate growth in Europe and on business development for individuals and e-tailers.

"We intend to increase our trade volume by five by the end of 2016. In addition, the interest of Blockchain technology, on which Bitcoin grows, is now widely recognized by the banking sector. This paves the way to new applications in the field of digital trust and payments, "says Pierre Noizat, President and co-founder of Paymium.

Speaking to CoinDesk, Noizat suggested the funding round was possibly lower than it would have been if the company had been focused on the US market.

"In the US, bitcoin awareness and venture capital funds are much more available. I think there is a tendency in the press to overestimate bitcoin awareness outside English speaking countries. There's a lot to be done in Europe", said Noizat.