Bitwage raises $1.5mm in 55 hours in recent funding round
Summary
Bitwage the leading provider of Bitcoin and cryptocurrency payroll, invoicing, and benefits announced this week that they closed $1.5MM in a funding round with online investment platform, BnkToTheFuture. BnkToTheFuture has over 150K qualifying investors and has had over $1bn invested in funding rounds since inception.Bitwage was founded in 2014 by Jonathan Chester and John Lindsay when they foresaw the opportunity to combine payroll services with cryptocurrency and bitcoin.Since its founding, Bitwage has reached a number of notable milestones:Key Latin American market grew 20x since the beginning of CovidWhile accomplishing these unique milestones, Bitwage raised over $1MM from acclaimed investors and blockchain visionaries, including Draper Associates and Max Keisers Heisenberg Capital.Bitwage experienced exponential growth in the last two years, catalyzed by the COVID-19 pandemic, the global remote work trend, and the rapid adoption of blockchain based assets. As a result of these trends, Bitcoin, cryptocurrency and stablecoin payroll services are poised to accelerate in growth for the foreseeable futureBitwage is set to be the leader of this new market. Staking an early advantage with their 2014 launch, the company has dedicated much of its existence to perfecting the payroll process for cryptocurrency and Bitcoin. Bitwage has outpaced its competitors by maximizing years of product development, extensive transaction history, and deep relationships within the cryptocurrency and banking worlds to navigate the emerging blockchain consumer and regulatory environments.Bitwage is set to become a large part of the infrastructure that will power domestic and international deposits into consumers accounts everywhere, whether it be their hardware wallets, their favorite exchanges, or their bank accounts.According to Bitwage CEO Jonathan Chester, When we first started in 2014, Bitcoin payroll was just a niche for cypherpunks and crypto anarchists.