THELOGICALINDIAN - The arch African Bitcoin payments startup BitPesa has auspiciously aloft 25 actor in Series A allotment Led by Draper VC Greycroft LLC and added absolute investors accept alternate in the companys latest fundraising round
BitPesa has accustomed itself as one of the arch cryptocurrency businesses in Africa. The Kenyan aggregation has been proactive in the region’s banking area by alms Bitcoin-powered banking casework to the unbanked and the underbanked population.
The aggregation started as a Bitcoin another to accepted MPesa adaptable payments system. It allows bodies to send/receive funds and additionally accomplish payments to businesses for appurtenances and services, all with Bitcoin. Recently BitPesa alien a new B2B service, advised to advice baby and big businesses in the African nations to barter with their suppliers and business counterparts in China, UK, and the United States.
Many African countries accept a anemic cyberbanking network, and the absolute branches allegation absonant fees for processing transactions. The amount and acceleration of affairs has been affecting abounding import-dependent businesses. There are letters of bodies application crooked third affair banking casework and alike couriers in abounding instances to bear money to their suppliers. BitPesa’s B2B account targets these businesses, alms them a way to alteration Bitcoin anon into the coffer accounts of their Chinese vendors. The account is currently accessible in Kenya, Nigeria, Tanzania and Uganda.
Some of the acclaimed names in the advance association like Digital Currency Group, Blockchain Capital, Panthera Capital Management, BnktotheFuture, Zephyr Acron and FuturePerfectVC accept additionally pitched into the Series A fundraising round.
According to BitPesa’s CEO Elizabeth Rosielleo, the aggregation will be application the funds to focus on accepting added barter while accretion its business in Nigeria. There accept been abundant letters on the growing Nigerian Bitcoin community. According to accessible statistics, the appeal for Bitcoin in the country added back mid-December 2016. The absolute account volumes exchanged on LocalBitcoins forth is said to be more than $1.3 million. The growing absorption is a acceptable assurance for BitPesa as a above-mentioned compassionate of cryptocurrencies amid the masses will accomplish it easier for the aggregation to onboard new users.
