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August 21, 2023

CityPay.io Raises €2M+ in Seed Funding

CityPay.io Secures Over €2M in Seed Funding, Accelerating Cryptocurrency Payments Vision

In a resounding endorsement of the transformative potential of cryptocurrency payments, Georgia's trailblazing start-up, CityPay.io, has successfully raised over €2 million in a Seed funding round. This investment milestone bolsters CityPay.io's financial foundation and sets the stage for an expansive journey into new markets, most notably the CIS region while heralding the dawn of a groundbreaking B2C platform.

CityPay.io's visionary founders, Eralp Hatipoglu (CEO) and Beka Kemertelidze have harnessed the power of fintech to revolutionize payment dynamics. Enabling businesses to seamlessly accept cryptocurrency payments via a quartet of channels, including web payment integration, POS terminals for location-based enterprises, e-mail billing for one-time transactions, and individual initial depositing, CityPay.io's ingenuity lies in its seamless conversion of these crypto transactions into fiat currency.

The triumphant Seed funding round, surpassing €2 million, is a culmination of strategic investments from prominent players in the fintech arena. Notable contributors include Tether, Presto Ventures, and a cohort of visionary angel investors. Paolo Ardoino, CTO of Tether, underscores the significance of this collaboration, stating, "We are thrilled to be partnering with CityPay.io on our shared journey of reimagining the financial landscape. This investment signifies our commitment to fostering innovation and accessibility within the payment industry, aligned with our vision of a more interconnected financial realm."

Eralp Hatipoglu, the CEO behind CityPay.io's ingenious framework, reflects on the journey thus far. Over the past two years, the company has orchestrated a transformation in Georgia's crypto landscape, molding the culture of everyday crypto transactions for goods and services. Hatipoglu shares his enthusiasm for the future, underpinned by the support of Presto Ventures and Tether. With a steadfast mission to bring everyone into the crypto fold, CityPay.io is primed to scale new heights while remaining anchored to its pioneering ethos.

CityPay.io's achievement in securing substantial Seed funding is a testament to the fintech's unwavering commitment to crypto innovation and accessibility.

Josefina Dipaolo
Josefina Dipaolo
Content Writer at TechNews180
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