Decentralized Payment Firm Radpay Raises $1.2M in Seed Round

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Decentralized payment processing company Radpay has secured $1.2 million in a seed round, with the participation of investment firms Resiliency Ventures and BlackLaunch.

Per a press release published on Nov. 18, Radpay completed a $1.2 million series seed round that reflects a 20% oversubscription. The company saw financial support from a number of Silicon Valley investors, Phoenix-based investment firms Resiliency Ventures and BlackLaunch, and investors from Nebraska and Arizona.

Radpay is planning to allocate the raised funds to the company’s further development, which includes commercialization of its technology, expansion of its products to e-commerce and retailers, as well as the ongoing development of the company’s products focused on  blockchain, payments, and digital wallets.

Industry players pour money into payment projects

Earlier today, Cointelegraph reported that Lagos-headquartered fintech firm Opay had sealed $120 million in a Series B financing round from a host of high-profile Chinese investors. OPay reportedly intends to use the funds to scale and extend its digital payments solution beyond Nigeria to Kenya, Ghana and South Africa.

Recently, British mobile banking firm Revolut revealed it was negotiating with investors to raise at least half a billion dollars next year in order to fuel its expansion and hire new personnel, as well as expand its partnership with payment firms Visa and Mastercard.

Australian crypto firm DigitalX Ltd. is launching a Bitcoin (BTC) fund, seeded with roughly $1.9 million of its own holdings in cryptocurrency. The new fund was offered through an unlisted fund structure to enable investors like family offices and high-net-worth individuals to gain exposure to the coin via a familiar vehicle.