Coinify

cryptocurrencyblockchainpayments

FOUNDING YEAR: 2014
LOCATION: Denmark
Last Update: 01/05/2020

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About

Headquartered in Copenhagen, Denmark, Coinify ApS operate as a blockchain payment service provider (bPSP) with focus on extending blockchain currency payment processing and trading services to merchants and consumers respectively. Coinify serve global Payment Service Providers, online businesses, physical shops, and individuals. The company incorporated in 2014 and is backed by a multi million dollar injection from SEED Capital Denmark, SEB Venture Capital and Accelerace. With experience in working with digital currencies since 2010, the Coinify team has strong backgrounds in payments, finance, risk, e­commerce, and compliance areas. Coinify dominate the European market and are continuously expanding into Asian and global markets. The company was named ‘Emerging Star’ in Fintech 100 (an initiative by KPMG and H2Ventures); was elected part of the ‘European FinTech Top 100’ and won the IFM Award for ‘Best Electronic Payment Solution’. Visit www.coinify.com for more information.

MEDICI Analysis

Coinify is a digital payment platform to provide payment processing & trading services to merchants & consumers. The company offers a mobile application that enables buying, selling, and accepting bitcoin payment in stores worldwide. Recently the company has received various industry awards and recognitions such as Frost & Sullivan Best Practices Award: ‘Global Blockchain Financial Service Provider 2017’; KPMG & H2 Ventures ‘Fintech 100 Emerging Star’; ‘Top 100 FinTech Europe’ 2017 & 2016; Nordic Startup Award ‘Best Fintech Startup Denmark 2017’; and ‘Top 50’ Financial IT Pathfinder Ranking.

Focus

PRODUCTS & SERVICES

Bitcoin Payments & Processing services to Merchants, Trade & Enterprises platforms. Coinify platform offers blockchain currency trading and payment processing services: individuals can buy and sell blockchain currencies, and merchants can accept blockchain payments in 15 currencies and receive payouts in fiat. Coinify API allows trading and payment processing white label solutions for its partners. Payment Service Providers can offer blockchain currencies as a payment method to their merchants; Cryptocurrency wallet providers can offer in-wallet trading; Loyalty point companies can offer rewards in the form of blockchain currency, Financial institutions can integrate blockchain currency trading in their platform, etc.

REVENUE MODEL

based on conversion fees and other services

MAIN CLIENTS

Hungry.dk

Marvin.ie

EXISTING PARTNERSHIPS

DigixGlobal

PensoPay

Hello Markets

iSignthis

Payssion

PRIMARY PROBLEM SOLVED

Coinify enables businesses and individuals to enter the ever-growing blockchain payment ecosystem. Payment Service Providers (Enterprise) and businesses (Merchants) can accept payments in 15 blockchain currencies (including bitcoin, ether, ripple) in secure environment with option to receive payout in their local currency. We guarantee zero chargebacks and take care for the technical aspects, leaving it easy for our customers to operate in business as usual mode. Our Trade users can buy or sell bitcoin with us using their local currency. We support bank transfers in every SEPA country and instaneous card payments in nearly every country. Advantages connected with order volume in four different account levels. We “lock” the price of blockchain currency at the time of payment and buy/sell order, leaving the volatility concern out of equation.

INTELLECTUAL PROPERTY

Patent(s) FILED

Traction

REVENUE COMMENT:

In year 2017 Coinifys revenues has grew 1600 percent and it is profitable (Jan 2018).

TRANSACTIONS COMMENT:

Based on transaction volume, Coinify is the #1 blockchain payment service provider in Europe and #4 globally.

ACTIVE USERS:

15K+

ACTIVE USERS COMMENT:

Coinify claims that it is serving more than 60,000 merchants in Europe till date (Jan 2018) .

People

FOUNDERS

Lasse Birk Olesen

Mark Hojgaard

Kris Henriksen

BOARD MEMBERS AND ADVISORS

Morten Birk Belling

Richard Breiter

Hans Henrik Hoffmeyer

Jan Kaastrup

Morten Kjaersgaard

Jesper Knudsen

Claudiu Mihail Ionescu

Robert Mygind

Martin von Haller Groenbaek

Martin von Haller Grønback

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Accelerace

Jesper Knudsen

Nordic Eye

Richard Breiter

SEB Venture Capital

SEED Capital Denmark

seed capital denmark.

KEY EMPLOYEES:

Mark Højgaard (CEO)

COMMENT:

Coinify team consists of strong backgrounds in payments, finance, risk, e-commerce,,compliance areas,experience in working with digital currencies since 2010. Coinify Blockchain Experts are active in blockchain technology advocacy,thought leadership available as: keynote speakers,panelists; media commentators;,consultants.

Momentum

FUNDED

YES

TOTAL FUNDING

$8.8 M

DATE OF LAST FUNDING

Dec 2017

TOTAL FUNDING COMMENT

The company is planning to use the capital for further expand its operations, acquire talent, grow its technology, and establish more bases of operation across Europe, the United States, and other markets (Jan 2018).

SEED CLOSED ON

Sep 2014

SEED PRIOR FUNDING COMMENT

Undisclosed seed fund raised in Sep 2014.

FUNDING SERIES

SERIES A  · $8.8 M  · Dec 2017

LISTED

NO

For Investors

FUNDING NEEDED:

$1.00

USES OF FUNDS RAISED:

1. global expansion

2. maintaining laeading position in Europe

3. further expansion in Asia

BASICS

FOUNDING YEAR:

2014

LOCATION:

Denmark

Views:

481 VISITORS | 797 VIEWS
LATEST FUNDING ROUND

$8.8 M

TOTAL EMPLOYEES
11-50

About

Headquartered in Copenhagen, Denmark, Coinify ApS operate as a blockchain payment service provider (bPSP) with focus on extending blockchain currency payment processing and trading services to merchants and consumers respectively. Coinify serve global Payment Service Providers, online businesses, physical shops, and individuals. The company incorporated in 2014 and is backed by a multi million dollar injection from SEED Capital Denmark, SEB Venture Capital and Accelerace. With experience in working with digital currencies since 2010, the Coinify team has strong backgrounds in payments, finance, risk, e­commerce, and compliance areas. Coinify dominate the European market and are continuously expanding into Asian and global markets. The company was named ‘Emerging Star’ in Fintech 100 (an initiative by KPMG and H2Ventures); was elected part of the ‘European FinTech Top 100’ and won the IFM Award for ‘Best Electronic Payment Solution’. Visit www.coinify.com for more information.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

Coinify is a digital payment platform to provide payment processing & trading services to merchants & consumers. The company offers a mobile application that enables buying, selling, and accepting bitcoin payment in stores worldwide. Recently the company has received various industry awards and recognitions such as Frost & Sullivan Best Practices Award: ‘Global Blockchain Financial Service Provider 2017’; KPMG & H2 Ventures ‘Fintech 100 Emerging Star’; ‘Top 100 FinTech Europe’ 2017 & 2016; Nordic Startup Award ‘Best Fintech Startup Denmark 2017’; and ‘Top 50’ Financial IT Pathfinder Ranking.

Focus+
Momentum+
Traction+
People+
For Investors+
Other+

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Coinify

About

Headquartered in Copenhagen, Denmark, Coinify ApS operate as a blockchain payment service provider (bPSP) with focus on extending blockchain currency payment processing and trading services to merchants and consumers respectively. Coinify serve global Payment Service Providers, online businesses, physical shops, and individuals. The company incorporated in 2014 and is backed by a multi million dollar injection from SEED Capital Denmark, SEB Venture Capital and Accelerace. With experience in working with digital currencies since 2010, the Coinify team has strong backgrounds in payments, finance, risk, e­commerce, and compliance areas. Coinify dominate the European market and are continuously expanding into Asian and global markets. The company was named ‘Emerging Star’ in Fintech 100 (an initiative by KPMG and H2Ventures); was elected part of the ‘European FinTech Top 100’ and won the IFM Award for ‘Best Electronic Payment Solution’. Visit www.coinify.com for more information.

Focus

PRODUCTS & SERVICES

Coinify ApS is an established global virtual currency player actively offering solutions in Europe, Asia, and other regions. The company was incorporated in 2014 and is backed by Nordic Eye Venture Capital, SEED Capital Denmark, SEB Venture Capital and Accelerace. The Coinify.com platform offers blockchain currency trading and payment processing services: individual Traders can buy and sell blockchain currencies, and Merchants can accept blockchain payments in 15 currencies and receive payouts in fiat. Coinify Enterprise solution allows trading and payment processing white label solutions for partners via our API integration: Payment Service Providers can offer blockchain currencies as a payment method to their merchants; Cryptocurrency wallet providers can offer in-wallet trading; Loyalty point companies can offer rewards in the form of blockchain currency; Financial institutions can integrate blockchain currency trading into their platform, etc. Recent industry awards and recognition include: Best Practices Award for ‘Global Blockchain Financial Service Provider 2017’ by Frost & Sullivan; ‘Emerging Star - Fintech 100’ by KPMG & H2 Ventures; ‘Top 100 FinTech Europe’ 2017 & 2016; Nordic Startup Award for ‘Best Fintech Startup Denmark 2017’; and ‘#22 in Top 50’ Financial IT Pathfinder Ranking. To learn more, visit our newsroom or follow us on Social Media platforms (LinkedIn, Facebook, Twitter, AngelList and CrunchBase).

REVENUE MODEL

based on conversion fees and other services

TOP PROBLEM SOLVED

Coinify enables businesses and individuals to enter the ever-growing blockchain payment ecosystem. Payment Service Providers (Enterprise) and businesses (Merchants) can accept payments in 15 blockchain currencies (including bitcoin, ether, ripple) in secure environment with option to receive payout in their local currency. We guarantee zero chargebacks and take care for the technical aspects, leaving it easy for our customers to operate in business as usual mode. Our Trade users can buy or sell bitcoin with us using their local currency. We support bank transfers in every SEPA country and instaneous card payments in nearly every country. Advantages connected with order volume in four different account levels. We “lock” the price of blockchain currency at the time of payment and buy/sell order, leaving the volatility concern out of equation.

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

PRODUCT DEVELOPMENT COMMENT

As a fintech company found in Bitcoin/blockchain vertical, Coinify is categorised as "universal." Coinify.com platform combines several blockchain currency services in one. This gives us competitive advantage over competitors who focus in one area only and enables strategic partnerships in more areas.

KEY DIFFERENTIATORS

B2B - payment processing (Merchants, Enterprise) B2C - brokerage (Trade) Blockchain experts - keynote speaking, consultancy Blockchain lab - bridging the gap between traditional finance and new blockchain worlds

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Enterprise - Retailers

Enterprise - Others

Small and Medium Business - Physical Retail

Small and Medium Business - Online Retail

Small And Medium Business - Other

Consumer

STRATEGIC CLIENTS AND PARTNERSHIP

NETS group : Blockchain Lab partner

Hungry Group : merchant

Digix : Strategic partnership

People

FOUNDERS

Lasse Birk Olesen

Mark Hojgaard

Kris Henriksen

NUMBER OF EMPLOYEES

11-50

KEY EMPLOYEES:

CEO: Mark Højgaard

CTO, FOUNDER: Lasse Birk Olesen

CRO: Morten Bebe

employee: Mark Højgaard (CEO)

FOUNDER: Mark Hojgaard

FOUNDER: Kris Henriksen

TEAM COMMENT:

With experience in working with digital currencies since 2010, the Coinify team has strong backgrounds in payments, finance, risk, e­commerce,,compliance areas. Coinify dominate the European market,are continuously expanding into Asian,global markets. The company was named ‘Emerging Star’ in Fintech 100 (an initiative by KPMG,H2Ventures); was elected part of the ‘European FinTech Top 100’,won the IFM Award for ‘Best Electronic Payment Solution’. Visit www.coinify.com for more information.

BOARD MEMBERS AND ADVISORS:

Morten Birk Belling, Richard Breiter, Hans Henrik Hoffmeyer, Jan Kaastrup, Morten Kjaersgaard, Jesper Knudsen, Claudiu Mihail Ionescu, Robert Mygind, Martin von Haller Groenbaek, Martin von Haller Grønback

INVESTORS:

Accelerace

Jesper Knudsen

Nordic Eye

Richard Breiter

SEB Venture Capital

SEED Capital Denmark

seed capital denmark.

Momentum

FUNDED

YES

TOTAL FUNDING:

$4 M

LISTED

NO

FUNDING SERIES
Series A Aug 2016 --- USD4 M Comment on Series A https://news.coinify.com/press-release-coinify-investment-seb-seed-capital/ SEB Venture Capital Seed Captial Denmark