Alexandre Roubaud and Kabir Sethi – co-founders of Bitstack
Bitstacka young French company that offers a Bitcoin savings applicationhas collected 2 million euros from Founders Future, Kima Ventures and others.
Barely a year after raising capital, Bitstack recurs with a new 2 million euro financing round led once again by Founders Future.
The deal, which follows a €1 million initial round of funding announced in May 2022, will allow the Paris-based startup to hire, develop new features for its application and launch its own debit card.
Available on iOS and Android since summer 2022, the application designed by Bitstack offers the possibility tosave in Bitcoin “in a simple, fun and painless way” thanks to the mechanics of rounding up to the next euro in the case of expenses and using the ” Dollar-Cost Averaging (DCA) “. The solution allows the user to associate a bank account with a payment card and then automatically purchase an amount corresponding to the upper rounding of each transaction in Bitcoin. For example, for a coffee paid 2.60€, the amount is rounded up to 3€ and 40 cents are saved in BTC.
Bitstack’s new round of funding also includes the participation of other major investors with Kima VenturesGoodwater Capital, FoundersX Ventures, Soma Capital and Lightning Ventures. The American incubator Y Combinatorwhich hosted the startup last year, also put its hand in the pot.
We are very happy to enter a new phase of Bitstack’s development alongside leading investors. Our ambition is to give the French a new way to manage their money,” commented Alexandre Roubaud, Bitstack’s CEO, in a statement shared with RoyalsBlue.com.
Registered PSAN with the AMF, the company boasts that it now serves 25,000 people in France who, in total, have saved more than 5 million euros in crypto-currencies.
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