COMING TO AFRICA: BITPESA RECEIVES $1MILLION IN FUNDING

Bitcoin is making progress growing throughout emerging markets worldwide. Africa seems to be the next area for growth in the market of international currency transfers and remittances, via the Bitcoin startup BitPesa. Now, with the help of California’s Pantera Capital Management LP, BitPesa has received over $1 million USD in new funding for their burgeoning Bitcoin operations in Africa.
In business since November of 2013, BitPesa has started sales of Bitcoin in Kenya and Ghana, and now has a team of 9 full-time employees. BitPesa’s growth has been featured on the World bank’s website and the entrepreneurial magazine Fast Company. BitPesa ended their first year in business with over $1.7M in equity. This current round of investment round was managed by Pantera Capital Management LP, with support from the Crypto Currency Partners LP, Stephens Investment Management LLC. Existing shareholders the Bitcoin Opportunity Corporation and Future/Perfect Ventures, among others also were participating.

This post was published at Crypto Coins News on February 10, 2015.