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Blockchain firm SatoshiPay secures £700K investment from Blue Star Capital

Blue Star Capital, an investment company with a focus on technology, announced that it has entered into a conditional agreement and has invested an amount of GBP700,000 in UK-incorporated blockchain and private nano payment software company SatoshiPay, Alliance News reported.

According to Blue Star, the company has subscribed for 1,886 ordinary shares of SatoshiPay at a price of €340 per SatoshiPay share. The subscription is a part of €1.0 million funding round, which will result in Blue Star having 11% interest in SatoshiPay (approx €6.0 million in total) if completed.

“We are delighted to be investing in SatoshiPay at this exciting stage in its development. We believe the market opportunity for SatoshiPay is potentially vast and we look forward to working with SatoshiPay's management to help maximize this opportunity,” Tony Fabrizi, CEO of Blue Star, said.

Blue Star also said that in order to complete the SatoshiPay subscription, it is seeking to raise up to GBP0.7 million gross proceeds and that the company received indications of interest from investors who would be sufficient to complete the placing that was launched soon after the announcement, as reported by Digital Look.

Recently, fellow AIM company FastForward Innovations that already has an investment, withdrew saying that it does not wish to participate in the latest funding round of SatoshyPay.

By Sujha Sundararanjan
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