JERUSALEM, May 9 (Reuters) -

* Israeli-Cypriot blockchain company PumaPay said it raised $117 million in a token sale to private investors.

* The funds will support its open source blockchain-based billing protocol that will provide merchants with a way to process crypto currency payments.

* PumaPay said it signed up over 40 companies with over $10 billion worth of transactions per year as partners.

* “It gives us the resource to expand our ecosystem, bringing more companies to adapt the protocol at this early stage,” said CEO Yoav Dror. (Reporting by Steven Scheer)