October 28, 2016updated 04 Apr 2017 3:56pm

Payments start-up nanoPay raises $10m in new funding

Canadian payments startup nanoPay has raised $10m in a Series A funding round to develop additional service offerings focusing on B2B and B2C applications.

By Verdict Staff

Canadian payments startup nanoPay has raised $10m in a Series A funding round to develop additional service offerings focusing on B2B and B2C applications.

The funding round was led by the merchant banking division of Goldman Sachs, APAGM Services, Jarnac Capital Management, and Rohatton.

The financing round comes nearly one year after nanoPay acquired MintChip platform from The Royal Canadian Mint.

nanoPay said it intends to use the funding to expand the global utility and acceptance of MintChip, which it recently acquired from The Royal Canadian Mint.

MintChip provides an open API platform for banks and businesses, allowing users to securely store and transfer any form of digital value between users.

nanoPay CEO and founder Laurence Cooke said: "This additional funding is a huge vote of confidence in nanoPay and its ability to prove our global potential. 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."