Banner - BitPesa

BitPesa

www.bitpesa.co

Fintech sector: B2B Payment / FX / Treasury

Country of incorporation: Luxembourg, U.K., Kenya, Nigeria, Senegal, Uganda, Tanzania, Democratic Republic of the Congo

Year of incorporation: 2013

Team names, roles
and company contact

Elizabeth Rossiello – CEO
Charlene Chen – COO 
Min-Si Wang – CPO (Chief Product Officer) 
Adam Gouveia – CFO 
Dearg OBartuin – CTO
David Yen – Head of Global Strategic Partnerships 

Other team members please visit here - https://www.bitpesa.co/team

Elevator pitch

BitPesa is a foreign exchange and treasury solution platform. We buy and sell frontier market currencies and facilitate instant settlement across a basket of global currencies to enable B2B and B2C payments. We use both fiat and digital currencies to settle between our own subsidiaries and external network partners around the world. We have the fastest, cheapest, and most efficient infrastructure available to make business payments to, from and within Africa.

Problem solved

High fees, delayed/lost transfer and inefficient paper-based processes for cross-border B2B payment into/from/within Africa.

Solution / technology

Blockchain Technology and crypto exchange for remittance services. 

Competitive

Policy / Regulatory

  • Licensed by UK Financial Conduct Authority (FCA) as an Authorised Payment Institution
  • Member of Central Bank of Nigeria’s (CBN) Virtual Currency Committee and drafted regulation on new digital payment for CBN

Product Innovation

  • First company to settle bitcoin to mobile money in the world in 2013
  • First African digital currency company to make a market directly between EUR/GBP and African currencies
  • First African lending product using digital currency

Growth

  • Processed more than 120,000 transactions
  • Volume traded of more than $60Mn with 25% month over month growth rate
  • On-boarded a Fortune 50 multinational and several large-scale global companies to buy/sell African currencies on BitPesa platform

Fundraising

  • Raised total $10Mn equity funding up to Aug. 2017
  • One of only companies to have investments from every major Blockchain investment fund
  • Secured global investors such as Greycroft VC Draper Associates, Digital Currency Group, Pantera Capital, Plug & Play, Blockchain Capital, Zephyr Accorn, BitFury

Media Exposure

  • Featured by Forbes, Fortune, The Wall Street Journal, BBC, Global Trade Review
  • Listed as “Companies to Inspire Africa” by the London Stock Exchange
  • Mentioned as a case study in Citi & PwC industry reports

Market size

Remittance Market in Middle East & Africa - $80+ Billion

Cookies contribute to a smoother browsing experience of the Website. By using it, you agree to the use of cookies. Read more