A startup company focused on decentralized global payments called Radpay was recently been able to raise $1.2 million USD in its latest seed round. According to the payment firm, the round was a success and the valuation of the firm is now floating around $10.2 million USD. This was the first time that Radpay has ever received outside funds.
The two main investors of the round were BlockLaunch and Resiliency Ventures, but investors from Silicon Valley, Arizona and Nebraska were also present in the round.
Radpay was originally created back in July 2018 as a way to innovate in the payment industry. The project is set to be a merchant payment solution that combines the blockchain technology with PCI-compliant card payment structures.
Right now, Redpay is already working together with merchants from retail and e-commerce, call centers, app developers and other specialists in the industry.
Dana Love, the CEO of Radpay, talked about the development of the firm and the latest seed round. Love affirmed that Radpay was created to accept charge cards without crippling merchants with abusive fees and to protect customers from crippling debt at the same time. This way, both sides would win.
He also stated that since the company was founded, it was able to push innovation forward on behalf of the e-commerce industry. With the capital from the seed round, Radpay will be able to start even more partnerships and to upgrade the quality of the services that are currently being offered.