Israeli Bitcoin Startup Simplex Raises $7M In Series A

February 7 2015 | The Israeli bitcoin startup Simplex has raised $7 million in a Series A funding round, including investment from bitcoin mining firms Bitmain and Cumberland Mining, as well as crowdfunding platform FundersClub. The new capital adds to the $1.4 million the company already raised, bringing the firm’s total fundraising to $8.4 million, which will allow the company to facilitate faster purchases of bitcoin via credit card, while beefing up their fraud protection services. Founded in 2014 by serial entrepreneur Nimrod Lehavi and two PayPal veterans, Erez Shapira and Netanel Kabala, Simplex enables crypto currency businesses to accept credit cards with zero charge. “With Simplex, transactions are convenient, carry less restrictions, and occur almost instantaneously. Bitcoin buyers can use Simplex’s checkout page on Bitcoin exchanges, broker websites, and wallet applications, then proceed with their purchases, as they would on any e-commerce site”, CEO Lehavi said in a statement.