Bitstack (Founders Program) raises €2M to democratize Bitcoin in France

After a first €1M raise a year ago, we’re excited to announce that Bitstack has closed a new round of funding. Part of STATION F’s Founders Program, the company announced today a €2M raise with participation from Founders Future, Y Combinator, Kima Ventures, Goodwater Capital, FoundersX Ventures, Soma Capital, Sharpstone Capital and Lightning Ventures.

Officially launched in July 2022, Bitstack allows its users to automatically round up their daily purchases and invest the spare change in bitcoin. Users can also buy and sell bitcoin, schedule recurring buys and withdraw bitcoin to an external wallet. The product is already used by 25,000 customers in France, who have collectively saved over €5M in bitcoin. This represents an average monthly saving of €100 in bitcoin per customer and +30% average unrealized gain — all this despite the downturn in bitcoin prices in 2022.

"We are seeing a rapidly growing interest for Bitcoin in France, with over 50% of Bitstack users being first-time bitcoin buyers. We also note a long-term conviction in Bitcoin’s value proposition as a store of value, with over 94% of our users looking to keep their bitcoins for more than three years and 29% for more than 10 years", said Alexandre Roubaud, CEO of Bitstack.

This new funding round will allow Bitstack to build new financial products and services around bitcoin. In addition to being able to save and invest in bitcoin, Bitstack users will now have access to a virtual bank account to automatically invest a percentage of their paycheck into bitcoin. They will also be able send and receive bitcoin instantly and will have the option to spend euros or bitcoins directly via the Bitstack card.

Bitstack will open access to its bitcoin cashback debit card, available for free, by the end of 2023. Bitstack cardholders will earn bitcoin rewards on every purchase and be able to enjoy additional rewards at select retail partners.

"We are very excited to enter a new phase of Bitstack's development alongside leading investors. Our ambition is to give people a new way to manage their money. At Bitstack, we believe that personal finance can be different, more accessible, more fun and more transparent thanks to bitcoin. With the launch of our new financial services and debit card, we continue our mission to democratize Bitcoin and create a more open financial system", explains Alexandre Roubaud.

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