The London, UK based bitcoin startup e-coin has successfully completed its crowdfunding campaign on BnktotheFuture. The company has raised close to $200000 during the campaign which lasted for a span of 1 month. The total funding raised by e-coin is 130 percent of the original fundraising aim of about $150000 against an equity of 10 percent at a valuation of a bit over $1.5 million.
E-coin is a provider of multiple bitcoin based services including multi-sig wallets and bitcoin cards for both virtual and PoS payments. The company started its crowdfunding campaign on BnktotheFuture platform on the 4th of October. Over the span on one month, the campaign received a lot of attention from the bitcoin community, enabling it to successfully exceed the original fundraising goal.
The multi-sig wallet offered by e-coin is designed by BitGo and it offers one of the most secure way for bitcoin users to save funds. The BitGo technology incorporated in e-coin comprises of three keys, all stored on different devices protecting the users against frauds and security breaches.
The E-Cards offered by e-coin can be used like any credit or debit card, the only difference is that the customer will be paying in bitcoin instead of fiat currency. E-Cards are currently available in over 150 countries and it can be used at any terminal which accepts Visa or MasterCard. According to the company’s website, over 30 million merchants across the world accept payments through E-Card. The company has also taken the worst case scenarios into account and provides insurance cover to all the funds belonging to customers held by e-coin.
Soon e-coin will be launching its mobile application for Android and iOS platforms which can be used to manage the user accounts. Customers can buy or sell bitcoin and deposit funds into their E-Cards using the new mobile application.
E-coin will be using the funds raised over BnktotheFuture to upgrade its product development capabilities.