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BitX raises USD 4 million in Series A funding

Marcus Swanepoel
2 minute read

We are excited to announce our USD 4 million Series A funding round lead by the Naspers Group, through their payments subsidiary PayU. Our existing investor, Barry Silbert's Digital Currency Group, also participated in the round.


Over the past 12 months we’ve seen incredible growth and engagement across the markets we operate in, and we now have the largest emerging market footprint of any cryptocurrency company, with our platform available to over half a billion consumers spread across key markets in Southeast Asia and Africa.

In order to help facilitate this growth and continue to deliver on our promise of providing high quality Bitcoin products and services to our customers, it was important to raise more capital from quality partners. Naspers backs some of the most successful internet companies of our time, and with their unrivaled experience and networks in all the key high growth markets around the world, we couldn’t have wished for a better partner to continue this exciting journey with.

This funding round also allows us to expand into other markets, launch a number of exciting new products and more generally leverage the Naspers Group’s extensive global network to help drive large-scale cryptocurrency adoption.

Needless to say, we're hiring, so if you’re an exceptional candidate looking to join a bright and ambitious team who are pushing the boundaries of technology and finance, please get in touch.

Last and certainly not least, a big thanks to all our loyal BitX customers around the world - you all help us go from strength to strength and as always we’re super excited to continue working hard to give you the best Bitcoin experience in the world.

You can download our full press release here (PDF).

Avatar Marcus Swanepoel

Marcus Swanepoel

Marcus is the cofounder and CEO of Luno. Previously, he worked for Standard Chartered in Singapore and before that 3i and Morgan Stanley in London. He holds an MBA from INSEAD, is a qualified Chartered Accountant and a CFA charterholder. He is a South African citizen and a Singapore Permanent Resident.

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