TBW - Bitcoin savings: Bitstack raises €5 million
The rise in crypto markets has done much to rekindle investor appetite, and well-positioned start-ups such as Bitstack are benefiting.
The French start-up, which made a name for itself with its system of rounding up bitcoin on every spend, has just raised €5 million in a seed round.
The round was led by fund Stillmark. Other funds such as Serena, Plug and Play, Y Combinator, Founders Future and STATION F also participated in the deal.
"This fundraising shows that our gamble has paid off. We are one of the Top 10 finance apps in the App Store in France",boasts Alexandre Roubaud, co-founder and CEO of the company, which has 150,000 customers and claims total outstandings of €125 million.
Creating a "crypto bank"
With this round of funding, Bitstack (16 staff), one of whose main competitors could be Deblock (which has just raised €16 million), wants to recruit around ten people in the short term and accelerate its development in 2 areas: products and geography.
"We announced that we were going to have a Visa card and it's coming," explains Alexandre Roubaud, who explains that the aim is to add services around the Bitstack account and card throughout 2025. "Our aim is to create a crypto bank," he adds.
2025 should also see international expansion for Bitstack - only present in France so far - under European MiCA regulations.
