Bitwala, a Berlin, Germany-based Bitcoin startup, raised €800k in seed funding.
The round was led by High-Tech-Gründerfonds (HTGF) with participation from bitcoin and blockchain investor Digital Currency Group (DCG).
The company intends to use the funds for developing the Bitwala app and expanding globally.
Led by CEO Jörg von Minckwitz, and co-founders Jan Goslicki and Benjamin Jones, Bitwala provides a Blockchain technology-based platform for international money transfers with no need of having a bank account. Along with the Bitwala Debit Card, the company provides people with tools to make cash withdrawals at ATMs and payments at any store or website that accepts VISA.
Launched in early-2015, the company has surpassed €2M in transaction volume and has collected over 2,000 customers across Africa, Asia and Europe. It is offering 11 different currencies, a bitcoin debit card and business accounts for users with and without bank accounts.