Blockchain payments startup Bitpay has successfully raised $40 million in a Series B round with participation by venture capital firms Menlo Ventures and Aquiline Technology Growth. Bitpay, which processes bitcoin and bitcoin cash payments for merchants, announced that it had launched a $30 million Series B funding round last December, but decided to expand the round before it had concluded. ATG led the round, which expanded to $40 million due to "high demand," Bitpay CEO Stephen Pair told digital news organization Recode on Monday. Tyler Sosin, a partner who is spearheading Menlo's crypto work, told Recode that the firm has been considering investments in various blockchain startups for the past 18 months, but was dissatisfied with its options until it found Bitpay. He did not disclose the sum Menlo contributed to the round.

https://www.coindesk.com/bitpay-raises-40-million-in-series-b-round/