ACINQ has raised a total of $10m in funding to date following an undisclosed investment round led by Idinvest Partners.
Serena and Bpifrance also contributed to the funding round.
With the fresh funds, the Bitcoin startup is planning to grow its team, improve its Lightning protocol, and expand the business as a major operator and liquidity provider. The startup also hopes to release better products and services, and create an improved onboarding and user experience.
ACINQ runs the Lightning Network, an open payment network which brings VISA-scale scability to Bitcoin, the company claims. Its platform offers unlimited throughput, instant payments and low fees while keeping the security of Bitcoins.
Over the past year, the company has tripled the number of Lightning nodes to 10,000, across the globe.
Bpifrance managing director said, “Cryptocurrency’s potential is becoming more and more obvious. In this area where there is still much to explore and build, Bitcoin provides a platform for experimenting and implementing that is second to none. Lightning is its most promising scalability solution and we’re happy and proud to help and partner with ACINQ, a French company that is one of the world leaders of this new technology.”
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