BitX, today, announced that it has raised additional funding from Venturra Capital, a Southeast Asian venture fund. Venturra will join BitX’s existing investor group which includes Naspers Group and Digital Currency Group.
BitX is a platform that lets you sell, buy, and exchange bitcoins. It is also provides a wallet with which you can manage your bitcoins. BitX’s services are aimed at emerging bitcoin markets (Nigeria included). Transactions are made on the BitX app which is available on the Apple App Store and Google Play Store.
The investor, Venturra Capital, is a US$150m Southeast Asia-focused venture fund based out of Jakarta, founded by former Rocket Internet and Monk’s Hill Ventures partner Stefan Jung, Google Indonesia CEO Rudy Ramawy and John Riady, Director of the Lippo Group, a diversified Indonesian super-conglomerate.
Stefan Jung, Venturra Capital co-founder and managing partner said: “BitX has an exceptional team that combines deep technical expertise and commercial acumen. They have proven they can build innovative products and strong traction in a rapidly emerging industry.”
“We’re very excited to bring Venturra onboard for the next phase of BitX’s growth”, added BitX co-founder and CEO, Marcus Swanepoel. “Venturra is one of those rare funds that doesn’t just talk about adding value, but actually does it, in a consistent, relevant and tangible way. This, combined with their unrivalled expertise and networks in the Southeast Asian market, makes for an exciting partnership that will help solidify our leading position in the region.”
BitX raised $4 million in July 2015 in a round led by Naspers Group and including Barry Silbert’s Digital Currency Group. The company had already raised $824,000 in August 2014 from Ariadne Capital, DCG and angel investor Carol Realini.