Vogogo gathers USD 8.5 million to bring risk management to crypto-currency industry

Friday 8 August 2014 00:07 CET | News

Canadian online payment services provider Vogogo has raised USD 8.5 million in an oversubscribed Series B funding round led by Cormark Securities. The round also included Salman Partners, Clarus Securities, Beacon Securities and Canaccord Genuity.

Vogogo provides risk management, security, compliance and payment services, enabling crypto-currency businesses to transact with traditional banks and Fiat currencies. Vogogos technology and services enable crypto-currency businesses to meet strict compliance and risk mitigation requirements of conventional banks and regulators. To date, Vogogo has processed more than USD 1 billion in US and Canadian payments.

The company hopes that the investment will help legitimise Bitcoin in the payments field. The US expansion is expected to go live in a few months and they will further expand into the EU.

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Keywords: Vogogo, crypto-currency, online payments, online processing, risk management, security, compliance, payment services
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce