BitPersa brings total funding to $10m with latest Series A

January 9, 2017

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Africa-based blockchain payments platform BitPersa has secured a Series A investment led by Greycroft.

The exact round value was undisclosed but total funding received by the company has reached $10m, which would bring this latest capital around $4m. Backers to the round included Plug and Play and various existing shareholders.

BitPersa is an online payment platform which uses blockchain to lower costs and increase speed of payments within sub-Saharan Africa. The company has offices in Nairobi, Lagos and London, and covers over 65 countries and 6,000 users. BitPersa has helped with over 17,000 transactions, according to the company.

The company has had a 25 per cent growth month-on-month for the past two years, according to the company.

This new equity will be used to help expansion in Europe, the Middle East and Africa.

Plug and Play vice president Scott Robinson said, â€œBitPesa promises to revolutionize the exchange and payment markets in Africa, disrupting monopoly incumbents and opening the fastest growing economies in the world to foreign companies.â€