Bitpay trebles its workforce

Stemming from its recent US$30 million investment led by Index Ventures with Richard Branson and Jerry Yang, Bitpay has announced that it will be trebling its workforce.

Focus development

Having now raised $32.7 million, Bitpay has received more investment than any other Bitcoin startup. As part of its international expansion plan, around 70 new jobs will be created over its locations in Atlanta, San Francisco, Buenos Aires and Amsterdam, Index Ventures writes.

The new positions will be under the jurisdiction of co-founder Stephen Pair and comprise mainly developers working on open source Bitcoin app development platform Bitcore, as well as the Insight and Copay projects.

“Tony [Gallippi], Stephen and the team have achieved a fantastic amount with scant resources, and the combination of the huge market opportunity, the quality of the talent and this fresh injection of capital, will surely propel them to success on a global scale,” Index Ventures partner Jan Hammer said.

BitPay now processes over US$1 million per day in transactions from 30,000 customers, 50% of whom are in the US.