UK-based fiat and crypto payments network Bottlepay has raised £11 million in a seed funding round backed by British fund manager Alan Howard, present and former Goldman Sachs partners, FinTech Collective and Nydig.
The product gained over 20,000 users for a beta version of the app with no marketing, after being rated as the number one Crunchbase Bitcoin start-up globally.
Bottlepay says it will use the funding – which gives the startup a £51 million post-money valuation – to expand its team, improve functionality and increase the geographical reach of the service over the coming year.
Mark Webster, CEO of Bottlepay, says: “The payments ecosystem is undergoing monumental changes as we move towards a cashless society. Today’s consumer wants to be able to transact freely and easily, without the restrictions of a traditional bank. We believe that with this cash injection, we can build a leading company in this rapidly growing space which will allow people to send, spend and receive payments in a way that works best for them.”