Recently, Eligma has reported that it has completed another newest funding round, by bringing in a total investment of 4 million Euros (4.39 million dollars) from Pangea Blockchain Fund and Bitcoin.com. Eligma announced in its official medium blog. The organization is the developer of Elipay, a foundation for accepting crypto payments online and traditional shops where vendors can get payment in local fiat cash.
Established in 2018, the Slovenian organization is planning to provide payment foundation to dealers to acknowledge payments in digital currencies using PoS (point-of-sale). The organization has effectively developed a solution called Elipay, which enables dealers to accept payments in both crypto and fiat.
Even though the organization at first focused on its home market in Slovenia, additionally it extended its reach to associate with a few organizations in neighboring Croatia. Presently with the new capital, Eligma intends to tap the worldwide markets.
CEO of Eligma Dejan Roljic, Remarking on the funding, said:
Eligma effectively solved this problem with Elipay, which enables instant crypto transactions; furthermore, the merchant receives a settlement in local fiat and is thus safe from crypto volatility. This makes the use of cryptocurrencies quick and effective for daily use. We must not forget that cryptocurrencies were envisioned as the electronic cash of the future.
— GoCrypto (@eligmacom) August 30, 2019
According to Eligma, it was officially launched in more than 430 areas in Slovenia and Croatia, including shops, hotels, restaurants and sports offices. Prior, the organization associated with Bitcoin.com to provide services to the 4 million clients on its wallet platform. The organization is looking forward to partner with other wallet suppliers to bring in more clients. Moreover, the platform is additionally offering 2 percent of spent tokens back in the client wallets as ELI tokens.
From the beginning with an open crowdsale in 2018, Eligma has launched more locations in Croatia, Slovenia, and Turkey by accepting crypto on a day to day basis. The new infusion of capital will enable the organization to grow its services in additional markets around the globe where shippers can add support for crypto payments at the PoS (Point-of-Sale).
Pangea Blockchain Fund is an investment firm concentrating on offering financial and intellectual capital to start-up blockchain organizations. It invests resources on the entrepreneurs focused on building blockchain solutions that upset or change the situation. Moreover, the firm secured 22 million dollars out of a seed round in February 2019 from an investor group which includes a Switzerland based financial services group, Copernicus Asset Management SA and Roger Ver, Bitcoin.com Executive Chairman.
Besides enabling local organizations in their home market to acknowledge cryptocurrency payments, Eligma has enormously helped to put Slovenia on the map for famous crypto business developers and entrepreneurs. The nation is currently a worldwide pioneer in the online shop for service providers who are accepting crypto and fiat cash.