BitPay has closed a $40 million extended Series B funding round, which brings its total raised capital to over $70 million, according to a press release.

New investors in BitPay include Menlo Ventures, Capital Nine, G Squared, Nimble Ventures (an affiliate of Passport Capital) and Delta-v Capital as well as individual investments from Christopher Klauss Family Office, founder of Internet Security Systems (ISS) and Alvin Liu, co-founder of Tencent.

Aquiline Capital Partners led the initial Series B Round, but extended the round due to increased investor demand, according to the release.

"BitPay had a record 2017 as we processed over $1 billion in bitcoin payments. We brought on these new investors who can help BitPay scale globally to meet customer demand," Stephen Pair, BitPay CEO, said in the release. "Our goals include key hires in engineering and regulatory licensing, as well as expansion into emerging markets in Asia–one of BitPay's fastest-growing regions for transactions and wallet adoption."

In 2014, BitPay raised a $30 million Series A round from investors such as Index Ventures, Founders Fund, Felicis Ventures, RRE Ventures and Sir Richard Branson.