Bitcoin payroll startup Bitwage has wrapped up a period of fundraising, bringing in a total of $760,000 raised between a group of investors including Orange Telecom, Draper Associates and participants on the BnkToTheFuture.com investment platform.
On Monday, Bitwage closed a $200,000 funding round on BnkToTheFuture.com, shares from which were initially purchased by Max Keiser’s Bitcoin Capital fund.
The bitcoin payroll startup has spent the past few months raising funds, a process that included participation from Cloud Money Ventures, the venture arm of Uphold, and Saeed Amidi, an investor in Bitwage who was also an early supporter of now-billion dollar companies like PayPal and Dropbox. During that time Bitwage joined the Silicon Valley-based startup accelerator run by Orange, the major French telecommunications group.
In an interview with CoinDesk, Bitwage founder Jonathan Chester said that the company plans to use the funds to build out its infrastructure, with a particular focus on expanding to the European market. Further, he said the Bitwage team plans to expend resources on enhancing its user experience to make it simpler for client integrations to take place.
“What we’re doing with these funds is streamlining that process,” he said.
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