Purse Raises $1 Million, Plans ‘Secret Bitcoin Project’

Bitcoin e-commerce startup Purse has raised $1m in seed funding in a round led by investor Barry Silbert’s Digital Currency Group.

Dec 7, 2015 at 12:56 a.m. UTC
Updated Sep 11, 2021 at 12:01 p.m. UTC

Bitcoin e-commerce startup Purse has raised $1m in seed funding in a round led by investor Barry Silbert’s Digital Currency Group.

The funding is the latest for Purse, which runs a two-sided e-commerce marketplace that offers both steep discounts to Amazon shoppers willing to pay in bitcoin and allows gift cards to be exchanged for digital currency.

The startup used the announcement to advertise what it called a forthcoming "secret bitcoin project" it calls Tritium, which it said would bring “new value to consumers and partners”.

Though Purse offered no additional details, the company has demonstrated it is perhaps seeking to expand on its e-commerce model. Purse added new merchants to its platform this November, meaning products including Trezor and Ledger hardware wallets are now for sale at a discount on its market.

The funding follows a $300,000 seed round finalized last November and comes amid a recent decline in consumer bitcoin spending. Data from CoinDesk's Q3 State of Bitcoin report, for example, found wallet growth and merchant adoption have slowed toward the end of 2015.

Investors in the company include Strong Ventures, Yang Ventures and Plug & Play startup accelerator, as well as individual investors including BTCC CEO Bobby Lee; Bitcoin.com owner Roger Ver; and FinalHash CEO Marshall Long.

Disclaimer: Digital Currency Group is an investor in CoinDesk.

Secret image via Shutterstock 

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

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.

Trending

1
CoinDesk - Unknown
First Mover Asia: Terra's Difficult Post-Collapse Path: VCs Backing Away, Regulators Jumping on Stablecoins

Some investors see salvageable pieces in the rubble while others are bemoaning their involvement and want to forget the protocol ever existed; bitcoin edges up in weekend trading.

Some investors see salvageable pieces in the rubble while others are bemoaning their involvement and want to forget the protocol ever existed; bitcoin edges up in weekend trading.

CoinDesk - Unknown
2
CoinDesk - Unknown
China Can’t Seem to Stop Bitcoin Mining

Reported hashrate fell to zero for two months in China last year, but it has since returned rather abruptly.

Reported hashrate fell to zero for two months in China last year, but it has since returned rather abruptly.

CoinDesk - Unknown
3
CoinDesk - Unknown
Could Local Digital Currencies Improve Communities?

That's the argument of the president of the RadicalxChange Foundation.

That's the argument of the president of the RadicalxChange Foundation.

CoinDesk - Unknown
4
CoinDesk - Unknown
After the Terra Meltdown: What's Next for Stablecoins?

The largest token collapse in crypto history. So let Luna die.

The largest token collapse in crypto history. So let Luna die.

CoinDesk - Unknown