04 Aug 2016 11:49

SEB invests in blockchain start up

David Sonnek, Head of SEB Venture Capital

SEB Venture Capital has invested in Danish blockchain payment company Coinify. "Coinify has developed a unique platform for blockchain payments and fits perfectly in our portfolio of FinTech investments. We really look forward to contributing to Coinify's future development," says David Sonnek, Head of SEB Venture Capital.

Blockchain payment technologies can in general bring benefits in terms of reducing payment costs, risks, and processing times. Coinify, specifically, offers businesses and individuals easy access to blockchain currencies via fiat money exchange on its payment processing and trade services. The company currently supports 15 blockchain currencies (including bitcoin, ether and ripple), making it one of the most versatile companies in the industry.

"The fact that our current investors are joined by a classic yet very visionary bank dating back to 1856 sends a strong message to both banking and blockchain communities. We plan to use this investment to sustain our leading position in Europe and expand our blockchain payment and trade products into Asia," says Mark Højgaard, Co-Founder and CEO of Coinify.

About Coinify

Headquartered in Copenhagen, Denmark, Coinify ApS operate as a blockchain payment service provider (bPSP) with focus on extending blockchain currency payment processing and trading services to merchants and consumers respectively. Coinify serve global Payment Service Providers, online businesses, physical shops, and individuals. The company incorporated in 2014 and is backed by a multi million dollar injection from SEED Capital Denmark, SEB Venture Capital and Accelerace.

With experience in working with digital currencies since 2010, the Coinify team has strong backgrounds in payments, finance, risk, e-commerce, and compliance areas. Coinify dominate the European market and are continuously expanding into Asian and global markets. The company was named 'Emerging Star' in Fintech 100 (an initiative by KPMG and H2Ventures); was elected part of the 'European FinTech Top 100' and won the IFM Award for 'Best Electronic Payment Solution'. See the company web page for more information.