Blockchain -based Payments firm Eligma on Monday announced that it has secured €4 million (almost $4.3 million) from Roger Ver’s Bitcoin.com and venture capital Pangea Blockchain Fund.
Launched in 2018, the Slovanian company aims to provide payments infrastructure to merchants to accept payments in digital currencies via point-of-sale (PoS). The company has already developed a solution called Elipay, which allows merchants to accept payments in both fiat and crypto.
Though the company initially targeted its home market in Slovenia, it also expanded its reach to partner with several businesses in neighboring Croatia. Now with the fresh capital, Eligm is aiming to tap the international markets.
Commenting on the funding, Dejan Roljic, CEO of Eligma, said: “Eligma effectively solved this problem with Elipay, which enables instant crypto transactions; furthermore, the merchant receives 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.”
Easing crypto payments for the retail industry
Per the company, it has already established itself in more than 430 locations in Slovenia and Croatia, including hotels, shops, restaurants, and sports facilities.
Earlier, the company also partnered with Bitcoin.com to offer its services to the 4 million users of its wallet platform. The company is planning to partner with other wallet providers to bring in more users. The platform is also offering two percent of spent tokens to be returned to user's wallets in the form of ELI tokens.
“Bitcoin.com is investing in Eligma … as we drive more and more adoption and make it easier and easier for more people in more and more countries around the world … to use cryptocurrencies in general,” Roger Ver said.
Bitcoin.com also jumped in the crypto trading industry and launched its crypto exchange earlier today with a unique “negative” trading fees to attract traders’ attention.
