Fiat-to-crypto gateway BTC Direct secures €11 Million Series A financing round
BTC Direct, one of Europe’s leading cryptocurrency companies, today closes its €11 Million series A financing round. The round was funded by private investors, focussing on innovative growth companies. It is the first significant financial injection for the company that has been almost entirely bootstrapped by the early founders.
Mike Hutting, CEO:
“BTC Direct was founded in early 2013 and has been around for the majority of Bitcoin’s existence. We feel that we have a real good grasp on where this market is going and have developed several services to accommodate the growth of the entire crypto ecosystem these next few years. Through the resources we brought in, we now have put everything in place to accelerate growth on multiple fronts.
Our team of 50 will probably double within 18 months, hence we will fill-in several vacancies in engineering and other interesting roles within our company. BTC Direct has always strived to be on the forefront when it comes to complying with regulators. Therefore, we ambitiously work towards being fully compliant with the AMLD5 regulation that has been ratified earlier this year.
Continuous focus is being spent on product development and broadening our marketing efforts. We have seen tremendous growth since the beginning but feel like we just got started”
Davy Stevens, Co-founder:
“After launching BTC Direct in 2013 we also launched the cryptocurrency trade app “BLOX” and our fiat-to-crypto gateway, which is mainly focussed on the European market. We have been building these on- and off ramps into crypto for more than seven years already.”
Initially only for our own brokerage platform but now also for other crypto companies. Wallets and exchanges with a large European user base sometimes fail to grasp that the payment landscape in Europe can be quite different then in other parts of the world. By only offering card payments and bank transfers they don’t service the part of their user base that prefers to use a local payment method.
We offer support for the most prominent local payment methods and are continuously adding more. We already partnered up with a few major crypto companies since we launched and are now aiming for several new integrations each month.
This financing round is well-timed since we are gearing up towards, what seems to be, a volatile period for all tradable assets. Cryptocurrencies are gaining momentum by the day as Bitcoin is cementing its role as a non correlated asset that is immune to central banks money printing. There is this feeling of excitement going around the industry, one that we haven’t felt since 2016. We want to be ready when the next bull cycle erupts.”