Will financial technology, the startup industry that relates directly to the sensitive subject of money, be at risk if public trust in security is shaken?
Simplex, a startup that is aiming to reduce fraud risk in bitcoin, has raised a $7 million Series A round. Most of the money came from crowdfunding platform FundersClub and several bitcoin startups such as Cumberland and Bitmain, as well as individuals.
“We went live about a year ago with a few selected design partners, and we’ve managed to process, so far, about $4m in purchases and [be] able to fight fraud and fight it pretty well.”
The company acts as a payment processing layer for bitcoin purchases via credit card, with a focus on fraud reduction that reducing the consequences of chargebacks for businesses, such as exchanges or brokerages, that offer the service.
Interviews with the top people in the Bitcoin world about blockchain technology. Your host is Trace Mayer, J.D. recommended Bitcoin around a nickel and has invested in key infrastructure such as (1) Armory – the most secure Bitcoin wallet…
Nimrod Lehavi, CEO, presents Simplex at CoinSummit London.
Simplex enables crypto currency businesses to accept credit cards with no fraud chargeback guarantee. Or, more simply, Simplex allows the transfer of Bitcoin using standard credit cards…