Coinify acquires Coinzone

Bucharest, August 12, 2015. Coinify announced the acquisition of Coinzone, a leading Bitcoin payment provider, marking Gecad Ventures fifth international exit.

Coinzone was launched in 2014 as the first full stack European Bitcoin solution. By using Coinzone, users can buy, sell, trade and transact with Bitcoin. By integrating Coinzone’s technology, the new partnership between the two companies will result in a number of new opportunities for customers of both platforms.

Manuel Heilmann, CEO of Coinzone said: “With Coinify, we believe that we can strengthen the position of a European-based Bitcoin provider. Coinify has a strong financial management team, and together with the leading position that Coinzone has built over the last few years in Central and Eastern Europe, we look forward to the further development of the Bitcoin industry.”

Following the acquisition, Denmark-based company has expanded its merchant base to an estimated 10,000 actively monthly customers, up from 8,000 before the integration of Coinzone. Furthermore, the company has grown its employee base to 17, with the addition of Coinzone’s sales department.

“I am firmly convinced of the importance of blockchain technology and I think that in time it will be the foundation for several highly interesting products and services“, mentioned Radu Georgescu, Founding Partner Gecad Ventures.

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