Bitcoin payments services startup Paymium has raised €1m in new seed funding from investors including Newfund and Kima Ventures.
Despite the success in its home market, however, Paymium president and co-founder Pierre Noizat suggested the funding round was perhaps lower than it would have been if the company had been focused on the US market.
Noizat told CoinDesk:
Noizat said Paymium intends to spread awareness in major European economies by expanding its payment, exchange and application services to more regional markets.
As part of the expansion, Noizat said Paymium will likely grow its team to 12 members by the end of next year, up from eight today. Noizat added Paymium believes it's too early to concentrate the efforts of these workers on one specific service, however.
"It's hard to say which is our primary business, we don't know yet whether bitcoin will be a mass market payment method for individuals or blockchain tech applications," he continued. "We want to be full-service."
By far the largest startups serving the European merchant market, however, are based in the US, with Coinbase and BitPay having both expanded to the market in the last year.
Still, Noizat said Paymium is interested in collaborating with these groups, and believes it will have a competitive advantage given it is headquartered in Europe.
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