Singapore and South African based Bitcoin exchange platform BitX has raised $800K in seed fund to “bring Bitcoin to all corners of the earth, in particular emerging markets where the need for and impact of cryptocurrencies will be the biggest”. Investors included Bitcoin Opportunity Corp, investor Carol Realini and London-based Ariadne Capital.
Marcus Swanepoel, Co-founder and CEO, BitX, “ We are very excited to bring on board a team of seasoned international investors that can add direct value to our business through their strong networks in both developed and developing markets, as well as their entrepreneurial and industry experience, especially in the mobile and payments space.”
Bitx recently launched in Kenya and offers bitcoin wallets, builds bitcoin exchanges, helps merchant accept bitcoin by opening its API to developers and integrating with merchants among others. Apart from Kenya and South Africa, BitX has shop in Nigeria, Namibia and several others.
In a statement, Julie Meyer, CEO, Ariadne Capital said, “This investment reinforces Ariadne’s strategy of backing talented entrepreneurs and management teams building global companies that can disrupt at a large scale. We and our investors are looking forward to be a part of the next phase of BitX’s exciting journey.”
With plans for bitcoin ATM in Kenya, several merchants are signing up to accept bitcoins, therefore the raise to give everyone a bitcoin wallet makes great business sense.