BTC Startup BottlePay Raised $15 Million In Seed Funding: Report

BTC startup BottlePay raised $15 million in a seed funding round and the company now plans to hire more people to expand its geographical reach so let’s read more in our latest cryptocurrency news.

BTC Startup BottlePay also supports Bitcoin’s Lightning Network and works with popular social media platforms as well. The UK-based payment startup raised $15 million in seed funding and the investors include fund manager Alan Howard, venture capital firm FinTech Collective and NYDIG financial services firm as well as other Goldman Sachs partners. Tech entrepreneur Phil Doye is also among the backers.

The seed round follows the launch of the Startups’ services in the UK this month. The company said it will use the funding to hire new employees to focus on developing the functionality of the platform while other plans include geographical expansion of the services. The CEO Mark Webster said:

 “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.”

With this investment, BottlePay will try and forget some memories from the past when back in 2019 It took the decision to shut down services and not to become a subject to the new European regulations aimed at combating money laundering. The company announced it will relaunch the platform with more functionalities enabling instant payments in conventional currencies and BTC. The company is a part of the UK Financial Conduct Authority Innovation Hub.

As a basic crypto wallet, the Bottlepay app is available in both Android and iOS and is designed to integrate with social media platforms like Reddit, Discord, and Twitter which will let you pay someone by using their social media account. It will also allow users to store and transact BTC both on-chain and Lightning Network which is a second-layer scaling solution on top of the BTC network.

Sending #sats has never been this sexy 😍 pic.twitter.com/VhVdEyTeOo

— Bottlepay (@bottlepay) February 19, 2021

The company said it is an open payments system that supports BTC And will allow people to send, spend and receive money right away in any part of the world. the Lightning Network support means that the users will be able to execute micropayments and will make donations as little as a penny.