SNAPCARD has secured $1.5 million in a seed funding round led by investor Tim Draper. Other investors include Crypto-Currency Partners, Great Oaks Ventures and BoostVC.
Using a browser plugin, the company lets you pay for virtually anything with bitcoin, even your tax bill. They will also be launching a service allowing merchants to accept Bitcoin, Litecoin, Dogecoin and Ripple. Merchants will have access to embedded iFrames and a point-of-sale app for Android, with an iOS version coming soon.
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Charging 0.5% per transaction, merchants will have their digital currency sale converted fiat and deposited into their account the next day. Over 20 fiat currencies and 50 countries are said to be supported. There is also a built-in feature allowing one-click refunds.
SNAPCARD says it will be announcing merchant partnerships shortly.
For a detailed list of recent investment and M&A activity in the crypto industry, please visit the DC Magnates Crypto Deal Table.