Bitwage, a Bitcoin and cryptocurrency payroll, invoicing, and benefits platform, raises $1.5 million in a funding round with online investment platform, BnkToTheFuture.
The company said that the round was oversubscribed to 125% of the company’s target in the first few days. BnkToTheFuture has over 150K qualifying investors and has had over $1 billion invested in funding rounds since inception.
Jonathan Chester and John Lindsay founded Bitwage in 2014 to capture the opportunity to combine payroll services with Bitcoin and other digital currencies.
Bitwage Key Milestones
- $120MM transactions processed
- 50k registered users
- 2k registered companies
- US business doubled in 2021
- Key Latin American market grew 20x since the beginning of Covid
The company says that they raised over $1 million from acclaimed investors and blockchain visionaries, including Draper Associates and Max Keiser’s Heisenberg Capital – while achieving these milestones.
Impact Of COVID-19 Pandemic On Bitwage
Bitwage has 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 future
Bitwage 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.
Bitwage CEO Jonathan Chester, said:
“When we first started in 2014, Bitcoin payroll was just a niche for cypherpunks and crypto anarchists. Covid-19 has acted as a catalyst for both the cryptocurrency and remote work industries. Bitwage, Bitcoin and cryptocurrency payroll sit at the intersection of these two movements. The tailwinds are picking up for Bitcoin and cryptocurrency payroll to become a massive multi-billion dollar industry and Bitwage is poised to become the global leader.”
