Seed Capital invests in Coinify

The investment will be used to expand the start-up's bitcoin payment services for private and business clients in Europe, though the company also operates in the global market.

Richard Breitner, investment manager at Seed Capital, said his firm was mostly interested in Coinify's technology and platform, and believes the bitcoin protocol may have use in how unique digital assets are transferred in the future.

The Danish VC's capital injection marks the first investment by a Danish venture capital or private equity firm into the "cryptocurrency" sector.

This is only the second bitcoin-related investment from a Nordic firm, following Creandum's series-A for Swedish KnCMiner earlier in September, though a number of business angels have invested in the industry.

According to Coinify, it is also the first continental European venture capital investment in a provider of retail bitcoin payment services

Company
Based in the north-western Copenhagen suburb of Brønshøj, Coinify was formed by a merger of Bitcoin Nordic and Bitcoin Internet Payment System.

It provides a bitcoin payment platform and also offers exchange services for the digital currency.

Operating since 2010, around 7,000 bricks-and-mortar and webshops use the firm's payments service.

People
Richard Breitner is an investment manager with Seed Capital. Hans Henrik Heming is the CEO of Coinify.

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