Bitcoin payments startup BitPay is raising $30m in a funding round led by Aquiline Technology Growth, a fund managed by New York-based private equity firm Aquiline Capital Partners.

The startup said that it intends to use this capital for strategic steps toward solving the problems of the ‘world’s most difficult and valuable payments’.

The company added that plans are also on for making engineering hires, regulatory licensing, technology acquisitions, and expansion into Asian emerging markets after the fundraising in the next year.

BitPay CEO Stephen Pair said: “We’ve been able to solve some of our customers’ biggest payment problems, from multimillion dollar B2B payments to day to day expenses. Continually improving our customers’ experience with BitPay is a priority for us as we plan our next steps for product development.”

The latest funding follows a $30m series A round in 2014, which involved the participation of Index Ventures, Founder’s Fund, Felicis Ventures, RRE Ventures, and Sir Richard Branson, among others.

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By GlobalData