Estonian startup Mercuryo.io has raised €2.5 million in seed funding with hopes of becoming the Stripe for cryptocurrency payments. The investment was led by Berlin-based Target Global and will fuel an ambition plan to scale across Europe, Africa and Latin America.
In addition to offering a multicurrency crypto wallet for everyday consumers, the company has built a B2B payments infrastructure. The technology offers solutions for cross-border payments, virtual accounts, business payments, remittance processing and mass payouts.
As a crypto-fiat gateway, Mercuryo partners with several other European fintech businesses and integrates with cryptocurrency enterprises such as Bitfinex, BitForex, BTC-Alpha, OKEx. In a press release, the team claims it achieved 20x volume growth in the last six months, surpassing 200,000 users.
Founded in Tallinn in 2018, the Baltic fintech startup also has an office in London. Its website says that cryptocurrency cards, the old-school plastic kind that can live in a physical wallet, are on their way, too.
Photo: Co-founders Alex Vasiliev (CCO), Petr Kozyakov (CBDO) and Greg Waisman (COO)