Bitcoin Startup Bitrefill ready for expansion, raises $2 million funding.

Expansions to new jurisdictions by the age long and well known bitcoin startup Bitrefill, which offers cryptocurrency gift cards for mainstream brands and the lightning-enabled payment services is on the way as the receive backing from Venture.

Charlie Lee – the Litecoin originator, Fulgur Ventures and BnkToTheFuture and led by Coin Ninja to close a seed round of $2 million, disclosed by Bitrefill.

To provide worldwide coverage within the year, John Carvalho the CCO of Bitrefill said “his Stockholm- based starup had plan to expand its offerings across jurisdiction.”
Lee said in a report that the startup’s participation in the lighting network ecosystem  opens up more potential for bitcoin and beyond and Bitrefill services make it easier for someone to make a living with cryptocurrency.

According to 1ML.com, Thor is the top service which increases lightning network capacity in terms of value, and is with almost $19,000 worth of bitcoin, and providing the top service for running nodes on the network. Bitrefill’s Thor service allows people to give lightning channels to someone else even though there is no setup on the side of the recipient.

Carvalho said the sector of the business that sells gift cards for cryptocurrency is growing rapidly though he didn’t say the amount realised by the team of 16 persons as their earning so far in 2019. This seed round brings the company’s total funding to $2.4 million from firms including Boost VC and others.

“We intend to continue offering “ this he said with regards to plans to deploy this capital in 2019 in wider way.

 

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Credit: Leigh Cuen

 

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