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Bottlepay, a Payments Startup That Lets You Send Bitcoin on Social Media, Raises $15M
The payments platform is built with the Lightning Network scaling solution, which enables cheaper and faster bitcoin transactions.
Bitcoin payments platform Bottlepay announced Tuesday it has secured £11 million (nearly $15.5 million) in a seed funding round.
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- Participants in the round included Alan Howard, founder of hedge fund manager Brevan Howard; "present and former" Goldman Sachs partners; venture capital firm FinTech Collective; digital assets firm NYDIG; and entrepreneur Phil Doye.
- Bottlepay said the cash injection will be used to expand its team by 60%, develop the platform’s functionality and increase its international reach.
- Bottlepay says it aims to disrupt the payments space with an app offering international payments in bitcoin and fiat currencies in real time. Users can also make micropayments of "as little as a penny" and send funds via messages on Twitter, Reddit, Discord.
- The app, launched on Feb. 10, is built with the Lightning Network scaling solution, which enables cheaper and faster bitcoin transactions.
- “Raising £11 million and reaching a post-money valuation of £51 million [$71 million] is a testament to the scale of Bottlepay’s ambition, and an illustration of the effort and resources invested to build and design a revolutionary payments infrastructure of this magnitude,” said Bottlepay CEO Mark Webster.
Read more: Bitcoin App Bottlepay Is Back From the Dead With a New Lightning App
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
