Tue, May 21

Estonian startup Mercuryo.io raises €2.5M seed funding

Mercury.io -Fund raise Press Release

Mercuryo.io – a fast-growing Estonian startup that bills itself as a European leader in cryptocurrency payment processing solutions closed a €2.5M seed funding led by Target Global, a major international VC fund with €800M+ under management.

Mercuryo.io is a cross-border payments network that enables businesses across the world to send and receive payments for goods and services using cryptocurrencies.  Its infrastructure provides solutions for virtual accounts, business payments, remittance processing, and mass payouts regardless of local payment methods and currencies. Mercuryo.io technology allows cryptocurrencies to be used in any form of payments worldwide. It empowers more businesses to be part of the global blockchain community.

Target Global confirms it is investing in Mercuryo.io technology. Mike Lobanov,  co-founder, and General Partner at Target Global said:

“At Target Global, we are great believers that the fintech now is a lot about infrastructure. We’ve already made our bets on Rapyd in fiat alternative payments infrastructure, Copper and Cryptofacilities in institutional crypto infrastructure.

As a relatively new asset class just gaining traction, cryptocurrencies require a secure payment infrastructure that Mercuryo.io is building. Mercuryo.io has launched with 150+ crypto projects to become a crypto-fiat gateway with a further launch of multiple other crypto payments products. As Stripe and Adyen once became a new standard of card payments, we believe Mercuryo.io can become a disruptor of crypto payments. And now we are excited to become Mercuryo’s supporters since the early days.”

Mercuryo.io co-founder and CBDO Petr Kozyakov says Mercuryo.io has managed to deliver great traction, demonstrating 20x volume growth in the last six months.

“This summer, we have tripled our partners’ portfolio. Now Binance, Tozex, Trezor, STEX, Pemex, AAX, Tokens, PointPay, Invity.io, MCX, TrustWallet have Mercuryo.io on board as a fiat-to-crypto processor partner.  We are becoming more and more popular due to our clear policy, transaction speed, and transparent fees. This is probably the reason why cryptocurrency enterprises such as Bitfinex, BitForex, BTC-Alpha, OKEx are already integrated with Mercuryo.io. We have reached 200K+ users and have ambitious plans to scale up operations across Europe, Latin America and Africa, which is now feasible due to our latest partnership with Target Global.”

About Target Global

Target Global is an international investment firm headquartered in Berlin, with €800M+ in assets under management. With offices in London, Tel Aviv, and Barcelona, they connect the key European startup ecosystems and leverage the unique DNA of each of our target geographies, across a global network. Target Global helps exceptional entrepreneurs to build market leaders. Target Global invests across multiple stages, investing in fast-growing tech companies, targeting trillion € markets. Our Partners have been investing for more than 15 years in the digital technology space, backing some of the key European success stories. The Target Global portfolio includes companies such as Rapyd, Delivery Hero, Reef Technologies, WeFox, and others.

About Mercuryo.io

Mercuryo.io was founded in Estonia in 2018 as a cryptocurrency exchange payment provider. It is operating across Europe, and it has offices in Tallinn and London. Mercuryo.io complies with PCI DSS international information security standards, which means tight control measures surrounding the storage, transmission and processing of data that businesses handle. The standard is adopted by VISA, MasterCard, AmEx.

Source: Cointelegraph

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