Bitstack raises 2 million euros to democratize bitcoin in France

The French start-up Bitstack, created in April 2021 by Alexandre Roubaud and Kabir Sethi, announces a fundraising of 2 million euros. This round table will allow the company to enrich its service offer and to democratize the use of bitcoin in France. Planned new features include sending bitcoin between friends and a debit card to earn bitcoin on every spend.

Growing success for bitcoin savings app Bitstack

Launched in July 2022, bit stack is a mobile application allowing you to save in bitcoin in a simple and fun way thanks to the rounding up of expenses to the next euro. Since its launch, it already has 25,000 users in France who have saved more than 5 million euros in bitcoin. The Dollar-Cost Averaging (DCA) method allows Bitstack to address the issue of bitcoin volatility and offer a long-term investment strategy.

Alexandre Roubaud, CEO of Bitstack, says half of the app’s users are first-time bitcoin buyers. This means that bitcoin is experiencing growing adoption in France. Moreover, 94% of users intend to keep their digital currencies for more than 3 years and 29% intend to keep them for more than 10 years. In addition, Bitstack is experiencing an increase of more than 20% in its active users each month, thus registering a record volume of new savers.

The new fundraising will allow the start-up to accelerate its development by strengthening its teams and offering new functionalities. Users will thus have a virtual IBAN, will be able to send and receive bitcoin between friends and will be able to pay in euros or in bitcoin using a debit card. This card, scheduled for the end of 2023, will be free and will work with all merchants. Users will earn bitcoin on every spend and can enjoy additional bitcoin rewards at select retail partners.

Towards a democratization of bitcoin in France

Bitstack, registered as a digital asset service provider (PSAN) with the Autorité des marchés financiers (AMF), wants to give the French a new way of managing their money, which is more accessible, transparent and fair thanks to bitcoin. The fundraising of 2 million euros and the launch of new functionalities mark an important step in the democratization of bitcoin in France and in the creation of a more open financial system.

For Marc Menasé, founder of Founders Future, Bitstack makes the use of cryptocurrencies accessible to everyone by offering an innovative new savings product that fits into everyday life. He is impressed with the designers’ vision, as well as their ability to execute their ideas in an ever-changing environment. He also says he is proud to support these ambitious and pragmatic entrepreneurs in the development of their business in France and abroad.

Bitstack CEO is excited to start a new phase of development with renowned investors. According to him, finance can be more accessible, transparent and equitable thanks to bitcoin.

Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of newsletter daily and weekly so you don’t miss any of the essential Tremplin.io!

Similar Posts