1024 683 AfricaIEG.com

BitPesa, one of the first and largest blockchain payments platform for Africa, with offices in Nairobi, Lagos, and London, has announced Greycroft as its lead investor in a follow-up to its Series A funding round.

Oversubscribed — with a majority of existing shareholders topping up and another new investor, Plug and Play — the firm has raised $10 million to date, and will use the new funds to continue its expansion into Europe, the Middle East and Africa.

BitPesa’s 25% month-on-month growth for nearly two years demonstrates that its initial model of using bitcoin blockchain to lower the cost and increase the speed for payment processing to and from emerging markets works for businesses.

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