Mercuryo.io Receives €2.5M as Result of Funding Round

Mercuryo.io, a self-described “fast-growing Estonian startup that bills itself as a European leader in cryptocurrency payment processing solutions,” has just received a “€2.5M seed funding led by Target Global, a major international VC fund with €800M+ under management,” according to the press release.

The release continues, claiming itself as a “cross-border payments network that enables businesses across the world to send and receive payments for goods and services using cryptocurrencies.” It allows businesses to create accounts, make payments and remittances, and even payouts no matter the actual method of currency.

Speaking on the matter is Mike Lobanov, the co-founder and General Partner at Target Global, who said:

“At Target Global, we are great believers that the fintech now is a lot about infrastructure. We’ve already made our bets on Rapyd in fiat alternative payments infrastructure, Copper and Cryptofacilities in institutional crypto infrastructure. As a relatively new asset class just gaining traction, cryptocurrencies require a secure payment infrastructure that Mercuryo.io is building. Mercuryo.io has launched with 150+ crypto projects to become a crypto-fiat gateway with a further launch of multiple other crypto payments products. As Stripe and Adyen once became a new standard of card payments, we believe Mercuryo.io can become a disruptor of crypto payments. And now we are excited to become Mercuryo’s supporters since the early days.”