Bottlepay secures £11m in seed funding to expand its Bitcoin payments platform.
The seed round was backed by participants including Alan Howard, FinTech Collective, and NYDIG.
Bottlepay provides a Bitcoin-based global payments application that enables real-time transactions in conventional currencies and digital assets. The platform facilitates instant micropayments and social payments across various messaging and social networks.
Bottlepay has secured £11m in a seed funding round from a syndicate of prominent angel investors and institutional backers. Participants in the raise include British fund manager Alan Howard, various present and former Goldman Sachs partners, venture capital firm FinTech Collective, financial services firm NYDIG, and tech entrepreneur Phil Doye.
The capital injection will be deployed to expand the firm's headcount, enhance product functionality, and broaden the geographical reach of its payment network. The funding follows a period of significant growth and hiring for the platform.
The company operates an open payment system built on Bitcoin protocols, allowing users to send, spend, and receive money globally in real time. The technology aims to eliminate high transaction fees and facilitate micropayments and social payments across platforms such as Twitter, Reddit, and Discord.
From the founder
"Raising £11 million and reaching a post-money valuation of £51 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."
Mark Webster
Chief Executive Officer at Bottlepay
Investor perspective
"While nearly 65 million people own Bitcoin globally, only a small fraction of that number actually transact daily, meaning we’ve only just begun to scratch the surface on the broader payment use cases for Bitcoin as an open-source money network. We believe Bottlepay’s elegant and intuitive consumer interface, built strategically on top of the power of the Lightning Network, will unlock social, streaming, and micropayments for digital assets. We were attracted to the team’s unique combination of technical and design talent, bound together with a laser-focus on privacy and regulatory compliance"
Sean Lippel
Head of Digital Assets, FinTech Collective
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets
Investors
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About the company
Bottlepay
Bottlepay operates a Bitcoin-based global payments app enabling real-time transactions.