Simplex closes USD 7 mln funding for credit card Bitcoin service

Those who funded are Bitcoin mining companies Bitmain and Cumberland Mining, as well as FundersClub, a crowdfunding platform that previously invested in Coinbase. A group of angel investors, which Simplex declined to name, also contributed to the funding.

The amount adds to a previously raised USD 1.4 million, bringing the company’s total fundraising to USD 8.4 million.
The company is seeking to enable faster purchases of Bitcoin via credit card, while at the same time reducing the consequences of fraud for businesses, such as exchanges or brokerages that offer the service.