Blockchain payments provider BitPay announced Tuesday it was closing a $40 million extended Series B round of financing. This brings the company’s total raised capital to more than $70 million. New investors include Menlo Ventures, Capital Nine, G Squared, Nimble Ventures and Delta-V Capital. “We gravitated towards BitPay because we felt the company had identified a killer use for crypto in facilitating low cost payment solutions for cross-border commerce and B2B payments, which is a massive market poorly served by the existing payment rails,” said Tyler Sosin, a partner at Menlo Ventures. Read more here.

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