Plutus Tap & Pay raises over $1m in crowdfunding

Investing | July 26, 2016 By:

Plutus Tap & Pay announced it has raised more than $1 million in crowdfunding in nine days.

“Over a thousand people rushed to participate to what was probably the shortest 9 day crowdfunding round to raise over $1 million USD in digital currencies, and over 4532 members have already signed up to prepare for the launch of Plutus.it,” said Plutus CCO Filip Martinka.

Plutus Tap & Pay is an upcoming Android-only mobile app which lets users make Bitcoin and Ethereum contactless (NFC) payments at any existing merchant with a compatible device. This means that it removes what is commonly seen as the largest barrier to the usage of digital currencies – merchant adoption. Customers no longer have to wait for merchants to accept Bitcoin and Ethereum directly.

In addition to the successful crowdfunding campaign, Plutus has also built a strong management team to ensure the project’s success. Some of the members include Bertrand Dezard (who was previously with Visa and BrainTree) as the Chief Payments Officer and Tobias Sommer from Evercore and Morgan Stanley as the COO.