CITYPAY.IO: Investment in Cryptocurrency will Help us Enter the Regional Market
CityPay.io is the first Georgian startup to receive a $ 500,000 investment in cryptocurrency.
Beka Kemertelidze, the founder of the startup, told Business Partner that the investment round had been active for the past two months and that they had been negotiating with both Georgian and foreign investors.
"Investing in cryptocurrency is twice as much important for us. Firstly, because the investment will enable us to move from the local market to the regional market on a large scale, and secondly, our goal is to make cryptocurrency a priority payment, setting the largest precedent for us."
We had investment offers from both Georgian and foreign angel investors, as well as from several VC funds. "Finally, negotiations were held with Angel Investor, who fully shares our future plans and sees the importance of cryptocurrency in the same way as us," said Beka Kemertelidze.
According to him, the investment will strengthen the company with new team members and new product functionality.
"We have already started entering the regional market, and the investment will accelerate the process," said the founder of Citypay.io.
At this stage, the total capital raised by the startup is already over $ 700,000, including GITA, Startup Yard, Private Investments and Angel Investor.
CityPay.io is a crypto payment platform that allows partner companies to receive payments by converting them into the desired currency.