BlockChyp Closes Seed Round
July 28, 2018
BlockChyp recently closed a Series AA transaction valuing the company at $3.4 Million. Led by Martin Olsen of Napa Valley, California, this transaction will put BlockChyp on track to launch its innovative new integrated payments technology later this year.
Olsen, a POS industry veteran and founder of Napa Valley Point of Sale, is excited about taking the lead on BlockChyp:
“When the BlockChyp team approached me with their vision of streamlining client sign-ups, lower rates, and removing the barriers for PCI Compliance I was very intrigued because it had all the components to help other vendors solve issues which in turn increases their bottom line and improve their customer service. I had previously worked with the founders of BlockChyp and I knew their capability for producing quality products that solved real problems. The fact that they were also building on blockchain technology shows this team has a great vision. I am very proud to be part of this team and look forward to releasing our first product in the coming months.”
BlockChyp will use the funds to scale up its development operations and open a new Payment Technology Lab in Kennewick, WA. The new facility will support firmware and gateway development. It will also serve as a pilot terminal fulfillment facility.
BlockChyp is expected to launch in the winter of 2018.