The Kenya-based bitcoin remittance startup, BitPesa, has raised US$1.1m in a second round of funding led by Pantera Capital.
The other participants in the funding round included Bitcoin Opportunity Corp and the crypto currency partners, Future/Perfect Ventures and Stephens Investment Management.
Dan Morehead of Pantera Capital Management LP has joined the Board of Directors and regional expansion will kick off soon, in other to fill the growing demand for low-cost international transfers.
In a blog post, Elizabeth Rossiello, the CEO / Founder, BitPesa said, “Keep an eye-out for our fresh new site design and launch of Bitcoin buy/sell in Tanzania and Uganda in the next few weeks – as BitPesa keeps up the pace making the fastest, easiest and lowest-cost international transfer products for Africa.”
The company, which recently celebrated its one year anniversary in November 2014, has a total equity of over $1.7 million from its November funding round.
With BitPesa, you can make payment in bitcoin and have it delivered to the recipient in physical cash at a 3 percent transfer rate.
