December 2014


Strategic advice
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