Funds raised will go towards the company’s stated goal of democratizing Bitcoin in France and beyond.
bit stack, a bitcoin saving app in France, has announced a funding round of $2.1 million (2 million euros). Funding comes from a variety of investors, including Founders Future, Y Combinator, and Kima Ventures, among others. The startup will use the funds to expand its product offerings, make strategic hires, and fund customer acquisition efforts, according to a press release sent to Bitcoin Magazine. Bitstack will soon offer its users the ability to automatically invest a percentage of their paycheck in bitcoin, send bitcoin between friends, and earn bitcoin rewards when spending with the Bitstack card, the company says.
Bitstack launched on the App Store and Google Play in July 2022 and has since onboarded more than 25,000 users in France, according to the press release. Alexandre Roubaud, CEO of Bitstack, said: “We are seeing increasing interest in Bitcoin in France, with more than 50% of Bitstack users buying bitcoin for the first time.” The startup has also seen its number of active users increase by more than 20% month-over-month, according to the press release.
Since its launch, Bitstack claims its users have made unrealized gains of 30% despite bitcoin’s downward trend in 2022. “Our ambition is to give people a new way to manage their money. At Bitstack, we believe that personal finances can be different, more accessible. , more fun and more transparent thanks to bitcoin. With the launch of our new financial services and debit card, we continue our mission to democratize Bitcoin and create a more open financial system,” Roubaud said.
Bitstack claims it will open up access to its freely available bitcoin cashback debit card by the end of 2023. Bitstack cardholders will be able to earn bitcoin rewards on every purchase, along with additional rewards at retail partners. selected. “Bitstack is democratizing the use of cryptocurrencies by creating an innovative new savings product that fits into everyday life,” said Marc Menasé, founder of Founders Future. “We are more than proud to accompany these ambitious entrepreneurs in Founders Future to help them in their development in France and abroad.”
