Coinsilium Group Limited, the blockchain technology investment and development company, has announced the completion of its equity investment in the seed capital round of SatoshiPay Limited, the nanopayments software developer.
Coinsilium said that it completed payment of approximately €150,000 to increase its shareholding in SatoshiPay to 14.5% and has now invested a total of €200,000 in SatoshiPay, representing 55% of the seed capital round.
“I’m happy to announce that with our lead investor and corporate advisor Coinsilium Group sending over the remaining funds and officially announcing their €200K investment in us earlier today, we can put a seal on this round”, Meinhard Benn, SatoshiPay's CEO and founder, said in an online post on Medium. “Coinsilium was joined by Stephen Dattels’ and Jim Mellon’s FastForward Innovations (formerly Kuala Innovations) as co-investors, who put in the remaining €160K.”
SatoshiPay, founded in 2014, has been developing a two-way payment platform that enables online content providers to monetise their digital content through the acceptance of nanopayments (payments of 10c or less per individual transaction). Through SatoshiPay, consumers can pay for online content on a per article, per view, per song or per download basis.
“Coinsilium is proud to have been the lead investor in the seed round and involved in the strategic decision to focus SatoshiPay on the development of its nanopayments platform”, said Cameron Parry, Coinsilium's Executive Chairman, commented.
