BitPesa, a Nairobi, Kenya-based bitcoin remittance platform, raised $1.1m in funding.
The round was led by Pantera Capital Management LP with participation from Crypto Currency Partners LP, Stephens Investment Management LLC, Bitcoin Opportunity Corp. and Future/Perfect Ventures. In conjunction with the funding, Dan Morehead of Pantera Capital Management joined BitPesa’s board of directors.
The company intends to use the funds to expand across in Tanzania and Uganda.
Led by Elizabeth Rossiello, CEO and Founder, Charlene Chen, COO, and Bob Aman, CTO, BitPesa provides a remittance product which only uses the Bitcoin technology.
The company, which operates in Kenya and Ghana, currently has a team of 9 full-time employees.