Georgia's leading crypto-payment firm, CityPay.io, has successfully concluded its seed stage by securing over 2 million euros in investments. Notably, this funding round attracted substantial investments from prominent players like Tether and Presto Ventures, alongside enthusiastic participation from local and international companies. With this achievement, CityPay.io is poised for expansion into the Commonwealth of Independent States (CIS) and global markets. This announcement comes through our trusted partner, Caucasus Business Week.
CityPay.io, established in 2020 by Eralf Hatipoglu and Beka Kemertelidze, has rapidly emerged as a regional leader, facilitating cryptocurrency payments for a wide range of businesses and entrepreneurs. Their versatile four-way payment and receipt system ensures secure and equitable transactions for both individuals and enterprises.
Since 2021, CityPay.io has already established partnerships with over 700 enterprises across various countries, including renowned brands such as Radisson Hotels, Wendy's Georgio, and Fresco Supermarket. With this substantial investment surpassing 2 million euros, the Georgian startup is gearing up for significant regional and international expansion. An interesting highlight is Tether's debut entry into the CIS market through its investment in this Georgian startup.