December 2014
Strategic advice
Exclusive financial advisor to Bitnet

Deal Team

Bitnet:

John McDonnell
Stephen Mc Namara

Corestar Partners:

Milan Bartik
Clemens Hisch

Transaction Summary

  • In December 2014, Corestar Partners completed a strategic advisory project, supporting Bitnet on its European market entry

Overview of Bitnet

  • Founded in January 2014, Bitnet has offices in Europe and the San Francisco Bay Area
  • It  provides a digital commerce platform enabling enterprise-scale merchants to accept bitcoin and other virtual currency based payments
  • Bitnet’s engineering, product, and business development team helped build and manage the world’s largest payment gateway, CyberSource, which was sold to the world’s largest payment network, Visa, for $2 billion in 2010

Corestar Partners’ Role

  • Corestar Partners acted as exclusive advisor to Bitnet’s management team, evaluating options with regard to the market entry into Europe and raising growth capital
  • Corestar Partners has been in close dialogue with the founders of Bitnet the past years
  • This transaction demonstrates Corestar Partners’ deep expertise in advising companies in the payment services and alternative payment sectors, combining Corestar’s unmatched industry network with its unique industry knowledge