Earlier this year, Toronto-based nanoPay announced that it was acquiring MintChip, a digital currency created by the Royal Canadian Mint.
In an effort to further expand its MintChip offering, the company announced a $10 million Series A in a round led by the Merchant Banking Division of Goldman Sachs, APAGM Services LLC (Andrew Prozes), Jarnac Capital Management Inc., and Rohatton Inc.
MintChip provides an open API platform for banks and businesses, allowing users to securely store and transfer any form of digital value between users. The company plans to use the funding to expand the global utility of MintChip, including developing new business partnerships and additional service offerings focusing on B2B and B2C applications.
“This additional funding is a huge vote of confidence in nanoPay and its ability to prove our global potential,” said Laurence Cooke, CEO and Founder of nanoPay. “After successfully deploying MintChip as a digital cash platform in Canada in June 2016, our focus is now on expanding the platform beyond digital cash to a broad range of B2B use cases that have global applications, for example, business-to- consumer disbursements and cross-border payments.”