SatoshiPay Gets €160,000 Investment from Jim Mellon Fund
Jim Mellon, executive director of Kuala Innovations, told CoinDesk the group now owned 10% of SatoshiPay, a bitcoin micropayment processor.
Sep 21, 2015 at 6:41 p.m. UTCUpdated Aug 18, 2021 at 4:12 p.m. UTC
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Kuala Innovations has funded its first bitcoin industry startup.
Jim Mellon, executive director of Kuala Innovations – and reportedly one of Britain's richest men – confirmed the news, telling CoinDesk the group now owned 10% of SatoshiPay, a bitcoin micropayments solution aimed at content providers.
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Mellon added:
"This is the first investment Kuala has made in a bitcoin-related company; previously it has invested in medical technology."
He said Kuala was "very attracted" to the concept of frictionless micropayments.
STORY CONTINUES BELOW
Although Mellon declined to divulge specifics, SatoshiPay said in a blog post that Kuala Innovations had invested €160,000 ($179,341) in seed funding.
Kuala's contribution, the post said is part of a larger funding round led by blockchain-focused investment company Coinsilium.
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