Brazilian Bitcoin Startup Bipa Raised $1.4M In Seed Round
"Founded in 2020 by Luiz Parreira, Bipa seeks to eliminate entry barriers and promote the use of bitcoin by providing a user-friendly digital account connected to instant payment networks PIX (Brazilian real) and Lightning (bitcoin)."
"Bipa, a Brazilian startup aiming to simplify financial transactions through Bitcoin, has announced the successful closure of its seed investment round, raising R$8 million (approximately $1.4 million)."
"Notable investors include New Form Capital - a venture capital fund focused on early-stage startups involved with blockchain technology and the financial market and Hivemind Ventures, which invests in startups with a Bitcoin focus, which both made their first investment in the Brazilian market through this round."
"The funds raised will support Bipa's expansion in the market, attracting new users and developing new business-to-consumer (B2C) products."
"According to data from the Investor X-Ray report by the Brazilian Association of Financial and Capital Market Entities (Anbima), approximately 6 million Brazilians, around 3% of the population, declare investments in cryptocurrencies."