French Bitcoin payment provider Paymium raises 1 million euros in angel round financing

Bitcoin payment service company Paymium has completed a €1 million seed round of financing, with investors including Newfund and Kima Ventures.

Paymium was founded in 2011 and is headquartered in Paris, France. So far, the company has achieved remarkable results, with partners including Showroomprive, the largest online fashion retailer in Europe, and Ingenico, a POS solution provider.

Despite the success in its home market, Paymium president and co-founder Pierre Noizat lamented that the round was actually low if the company had focused on the U.S. market.

Noizat told CoinDesk:

“In the U.S., Bitcoin is more widely known and venture capital is more active.”

Noizat said Paymium plans to expand the company's payment, transaction and application services to more major economies in Europe.

As part of the expansion plan, Noizat also said that the company's employee headcount may expand from the current 8 to 12 by the end of next year.

However, by far the largest bitcoin startups serving the European merchant market are from the United States, with Coinbase and BitPay both entering the European market last year.

Nonetheless, Noizat said Paymium is interested in working with these companies.

He concluded:

“We feel good because the ground is very broad and tens of thousands of merchants already accept Bitcoin, so we welcome big names to push Bitcoin to more merchants.”

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