Startups

BitPesa Raises Funding From BitFury Capital to Bring Bitcoins to the Masses

Pan-African bitcoin payments and trading firm BitPesa has raised an undisclosed round of funding from BitFury Capital, an investment arm of Bifury Group, a Bitcoin Blockchain infrastructure provider and transaction processing company.

The investment is a start of a mutual partnership between the two firms to work together to leverage the innovative power of the Bitcoin Blockchain for the benefit of the entire pan-African continent.

“Our mission is to make global transacting easier, especially for those who continue to face obstacles to financial growth,” said Valery Vavilov, CEO of BitFury. “A secure, transparent and trusted form of exchange is being made possible by BitPesa, and our investment will allow us to work together to leverage the innovative power of the Bitcoin Blockchain for the benefit of the entire pan-African continent.”

First launched in the UK and Kenya, BitPesa allows individuals and businesses all over the world to quickly and securely send payments to and from Kenya, Nigeria, Uganda, and Tanzania.

The company accepts bitcoin and exchanges it for local African currencies, which are then deposited into African bank accounts or mobile money wallets. BitPesa also sells bitcoin in Kenya, Nigeria, and Uganda, for those users who do not have access to other bitcoin exchanges.

The BitFury Group works hard to build community among companies working with bitcoin, large and small, the investment is a great deal into BitPesa. Which recently lost a court case against Safaricom for using Lipisha Consortuim’s platform for transfering bitcoins but life goes on.

According to Elizabeth Rossiello, CEO of BitPesa, “Valery and his team have a long history working in frontier markets and nothing is more important to our team than an understanding and support of the work we do.”

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