South African-based Bitcoin company Centbee has raised R18.3 million from Ayre Ventures in its Series A investment round.
“Centbee has a track record of making Bitcoin easily usable and accessible to everyone including merchants and consumers,” said Ayre Ventures founder Calvin Ayre.
“They support the original Bitcoin protocol in the form of Bitcoin SV, and have demonstrated an extraordinary ability to attract users and we’re proud to support their further growth.”
Centbee is a Bitcoin wallet provider that aims to make it easy for consumers to acquire, store, and spend Bitcoin with retailers and other merchants.
The company was founded by co-CEOs Lorien Gamaroff and Angus Brown, and its app now allows users to buy Bitcoin SV at over 50,000 till points in South Africa.
“We will help people move money simply and cheaply across borders to support family and friends,” Brown said. “The investment will be used for product development, scaling and growth.”