Coinme, a Seattle startup that is ‘crypto-enabling’ legacy financial services, raises $10M

(Coinme Image)

Seattle-based cryptocurrency startup Coinme raised $10 million in new funding from existing investors, the company confirmed to Mekhato.

Coinme allows customers to buy and sell bitcoin with cash at more than 15,000 physical locations through partnerships with Moneygram and Coinstar. The company originally built its own bitcoin ATMs but is now focused on a cryptocurrency cash network that “crypto-enables” legacy financial services such as Moneygram via an enterprise API.

Founded in 2014, Coinme plans to expand internationally in the coming months. The startup employs 58 people and has raised about $30 million to date.

Investors have been pouring cash into crypto and blockchain startups lately, including large rounds for companies such as BlockFi, Dapper Labs, and Blockchain.com. Silicon Valley firm Andreessen Horowitz is raising $1 billion for its third crypto venture fund, the Financial Times reported in April.

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