ZipZap nabs $1.1 mln

ZipZap has raised $1.1 million in funding. Investors included AngelList Syndicate, 500 Startups and Blumberg Capital. In addition to the funding, ZipZap has named Jim Griffin as senior vice president of currency. Headquartered in San Francisco, ZipZap is a global payment network.

PRESS RELEASE

SAN FRANCISCO, July 29, 2014 – ZipZap, Inc. (www.zipzapinc.com), the leading global transaction network, today announces its recent funding of $1.1M, which brings the total funding to date to $2.7M.

This latest fundraising was led by strategic investors from AngelList Syndicate and 500 Startups with follow on investment from Blumberg Capital. ZipZap will be using the funds to further its vision to be the primary payment network for digital currencies.

In addition, ZipZap has added former Wells Fargo executive, Jim Griffin, as the Senior Vice President of Currency and Foreign Exchange to its executive team.

“With the current state of the financial market, digital currencies are increasing in popularity and adoption,” says Jim Griffin. “This is an exciting time to join ZipZap and be a part of its growth and the evolution of currency on a global scale.”

Griffin will be managing ZipZap’s fiat and digital currency risks and driving relationships in the banking industry globally for potential partnerships.

“Jim’s expertise in worldwide currency and foreign exchange is perfect to support our recent growth into new markets,” says ZipZap CEO, Alan Safahi. “With our rapid growth and increased exposure to dozens of currencies worldwide, it is important for us to not only manage our risks but also develop solid relationships with banks and currency traders.”

Griffin was most recently the Executive Director of UBS Investment Bank responsible for driving new hedging and investment product innovation.
Prior to UBS, Griffin served as Senior Vice President of Foreign Exchange at Wells Fargo. It was in this role he created a new derivative-based product suite, designed for the ultra-high-net-worth and large corporate client channels. Major financial news outlets have recognized his expertise in worldwide exchange and used him as a source for commentary on the macro-economic, geo-political and currency market.

ZipZap also recently announced its expansion across the UK, South America and Europe to provide payment-processing services in these emerging markets for Bitcoin and other digital currency.

About ZipZap:
ZipZap, Inc. is a global payment network, enabling consumers to buy, sell or use digital currencies with cash or other payment options. Founded in 2010, ZipZap is headquartered in San Francisco, California, with operations around the globe. For more information about ZipZap, visit www.zipzapinc.com.

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