French Bitstack raises €2M for its Bitcoin Savings App

Bitstack

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.

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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.

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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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