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Coinsilium Increases SatoshiPay Shareholding

COINSILIUM GROUP LIMITED

(“Coinsilium” or the “Company")

 

Coinsilium Increases SatoshiPay Shareholding to 14.5%

Coinsilium Group Limited, the blockchain technology investment and development company, is pleased to announce completion of its equity investment in the seed capital round of nanopayments software developer, SatoshiPay Limited (“SatoshiPay”).

 

Key Highlights

  • SatoshiPay utilises blockchain technology for the monetisation of internet content and enables 'pay as you consume' model.
  • Coinsilium completed payment of approximately €150,000 to increase its shareholding in SatoshiPay to 14.5%.
  • Coinsilium has now invested a total of €200,000 in SatoshiPay, representing 55% of  the seed capital round.
  • Coinsilium also facilitated the other 45% investment in the round through its co-investor network in its role as corporate adviser to SatoshiPay.

 

SatoshiPay has been developing a two-way payment platform that sits on a user's web browser and enables online content providers to monetise their digital content through the acceptance of nanopayments (payments of 10c or less per individual transaction).  The SatoshiPay platform does away with expensive and lengthy subscriptions to read or view online content.  Through SatoshiPay, consumers can pay to consume online content on a per article, per view, per song or per download basis. 

Coinsilium has subscribed for 1,379 ordinary shares of SatoshiPay at a price of €108.76 per share, for a consideration of €149,980.04.  At the price paid by the Company, SatoshiPay has an aggregate post-money value of €1.6m.  This takes Coinsilium’s total investment in SatoshiPay to €200,000 via its wholly owned subsidiary Seedcoin Limited (“Seedcoin”), giving a total shareholding of 2,133 shares representing 14.5% of SatoshiPay.

 

Cameron Parry, Coinsilium's Executive Chairman, commented: “We are delighted to announce that Coinsilium has completed its acquisition of the majority of shares available in SatoshiPay's seed equity round, taking our total investment to €200,000 and increasing Coinsilium's equity holding in SatoshiPay to 14.5%. 

The SatoshiPay technology has tremendous disruptive potential and scalability.  The Coinsilium Board believe that SatoshiPay is poised to unlock the monetisation of the internet and enable 'pay as you consume' usage.  We believe that this is where mainstream consumption of online product is heading and we are confident that the award-winning team at SatoshiPay can deliver its nanopayments software to market in the near term.

We've enjoyed building our working relationship with SatoshiPay since our first meetings with founder and CEO Meinhard Benn back in early 2015, and Coinsilium is proud to have been the lead investor in the seed round and involved in the strategic decision to focus SatoshiPay on the development of its nanopayments platform.”

 

Meinhard Benn, SatoshiPay's CEO and founder, commented: “We appreciate our close working relationship with Coinsilium and are pleased to have them increase their shareholding to 14.5% of SatoshiPay.

The SatoshiPay platform utilises blockchain technology to allow processing of nanopayments of 10c, 1c or even less per online transaction and enables content providers to monetise their digital goods in completely new ways.  SatoshiPay works without software download or sign-up for the user. Payments are instant and the user's digital wallet balance is available on each website that integrates our software.  We believe there is tremendous appetite for this technology and we look forward to releasing SatoshiPay to market this quarter.”

 

Further information about SatoshiPay can be found at:

www.satoshipay.io

 

 

The Directors of Coinsilium Group Limited take responsibility for this announcement.

For further information please visit

www.coinsilium.com

or contact the following:

Cameron Parry

Coinsilium Group Limited

+44 (0) 207 099 0740

David Coffman / Asha Chotai

Daniel Stewart & Company

(Corporate Adviser & Joint Broker)

+44 (0) 207 776 6550

Nick Emerson / Jake Nixon

SI Capital Limited

(Joint Broker)

+44 (0) 1483 413 500

Josh Royston / Hilary Buchanan

Alma PR

(Public Relations)

+44 (0) 7515 805 218

Notes to Editor

Coinsilium is a London-based blockchain technology focused investment and development company, supporting early-stage blockchain companies through investment, acceleration, development and education. 

Coinsilium is the world's first blockchain technology focused company to be admitted to trading on an Exchange Regulated Market and has a portfolio of interests in blockchain companies and projects.  In addition to pursuing its investment strategy, through the experience of the Directors and management team, Coinsilium is able to offer a suite of services including corporate/business advisory, CPD accredited training & eduction, investment solutions, in-house development and other professional services to blockchain/fintech companies and major corporates wanting to learn more about blockchain technology and its implications to the way the world transfers value over the internet.

For further information please visit

http://www.coinsilium.com/

London, Singapore, Gibraltar

T : +350 2000 8223
E : info@coinsilium.com

Coinsilium (Gibraltar) Limited

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Gibraltar, GX11 1AA

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