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Paymium, a leading European bitcoin-euro exchange service, announced that it closed a seed round of €1 million funded by Newfund, Galitt, Kima Ventures and a number of undisclosed business angels. 

Paymium is said to be the first bitcoin payments provider in France to be supported by such notorious investors.

According to the press release, the raised funds will be used to accelerate the company’s expansion on the European market and to provide innovative services for individuals and e-merchants.

Pierre Noizat, President and co-founder of Paymium, commented:

“We intend to increase our trade volume by five by the end of 2016. In addition, the interest of Blockchain technology, on which Bitcoin grows, is now widely recognized by the banking sector. This paves the way to new applications in the field of digital trust and payments.”

Despite raising €1 million in seed funding, Noizat stated that the figure could be more impressive had the company been targeting the U.S. market. He told Coindesk:

“In the U.S., bitcoin awareness and venture capital funds are much more available. I think there is a tendency in the press to overestimate bitcoin awareness outside English speaking countries. There's a lot to be done in Europe.”

A Paris-based company launched in 2011 by Gonzague Grandval, Pierre Noizat and David François, Paymium is a well-known European bitcoin marketplace and payment processor. The company operates in compliance with the EU regulations on payment services. 

The company also presented an advanced trading interface designed to provide a quick access to all the market information. Alongside with the launch of the new interface, Paymium announced support for money transfers by mail in euro or bitcoin throughout Europe and with no fees.

 

Daria Petushkova