SatoshiPay Gets €160,000 Investment from Jim Mellon Fund

Jim Mellon, executive director of Kuala Innovations, told CoinDesk the group now owned 10% of SatoshiPay, a bitcoin micropayment processor.

AccessTimeIconSep 21, 2015 at 6:41 p.m. UTC
Updated Sep 11, 2021 at 11:53 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Kuala Innovations has funded its first bitcoin industry startup.

Jim Mellon, executive director of Kuala Innovations – and reportedly one of Britain's richest men – confirmed the news, telling CoinDesk the group now owned 10% of SatoshiPay, a bitcoin micropayments solution aimed at content providers.

Mellon added:

"This is the first investment Kuala has made in a bitcoin-related company; previously it has invested in medical technology."

He said Kuala was "very attracted" to the concept of frictionless micropayments.

Although Mellon declined to divulge specifics, SatoshiPay said in a blog post that Kuala Innovations had invested €160,000 ($179,341) in seed funding.

Kuala's contribution, the post said is part of a larger funding round led by blockchain-focused investment company Coinsilium.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.