Canadian bitcoin processor Vogogo raises $8.5 million to expand US operations

TORONTO (Scrap Monster): Vogogo-the Calgary-based bitcoin processor has raised funds worth $8.5 million, which it says will be used to expand its efforts into the US market.

The payment processing experts firm which operates under the banner of Redfall Technologies had raised the funds from a variety of firms including Cormark Securities, Salman Partners, and Clarus Securities. According to the company, it has served as a successful contributor to make Canada a reputable region for crypto businesses and the expansion into the US market is likely to take place in the coming months.

Founded in 2008, Vogogo has designed, built and launched a web-based payment processing technology while growing their expertise in software development, payments, risk management, and related financial services. To date, Vogogo has successfully processed more than $1B in US and Canadian payments.

With a full portfolio of payment and financial services secured by industry leading risk management technology, Vogogo is poised to be a highly competitive full service payments and financial services provider in global markets.