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

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.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

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.