Centbee, a facilitator of digital money payments on the Bitcoin blockchain BSV, has secured $1m in its pre-Series A round.
The round was headed by Calvin Ayre, who is the founder of bitcoin VC company Ayre Ventures.
Founded in 2017, Centbee is a digital cash wallet that makes it easier for global consumers to buy, spend and send digital cash to their friends and family on their mobile phone using the BSV blockchain.
According to Tech EU, Centbee’s crypto infrastructure enables customers to send digital money payments to friends and family overseas using a cross-border remittances service called Minit Money.
The firm also offers a number of digital cash products and services through a separate decentralised finance app.
Centbee uses the BSV ledger to record all remittance transactions immutably. Tech EU said it is being billed as a “true peer-to-peer” electronic cash system for sending Bitcoin, thanks to a use case that’s driven by utility as opposed to currency speculation.
The company is headquartered in London and also has offices in South Africa. It claims to have enabled 35,000 remittance payments into Africa.
The investment will support Centbee’s scaling-up plans and help bolster its technical and operating capacity.
Ayre remarked, “My faith in Centbee has been rewarded through Angus and Lorien’s ongoing commitment to making Bitcoin – the original protocol in the form of BSV – easily usable and accessible to everyone.”
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