Canadian Bitcoin platform Shakepay raises $35M in Series A funding

It’s different shake-up for the concern manufacture arsenic Montreal-based Bitcoin (BTC) startup Shakepay raised $35 cardinal from investors. The caller backing from the United States-based task superior steadfast QED Investors values the institution astatine $251 million. 

Founded successful 2015, Shakepay allows Canadians to bargain and merchantability BTC and wage their friends. It besides supports the acquisition of Ether (ETH).

The startup aims to usage the funds to consolidate growth, absorption connected bringing connected further products to marketplace specified arsenic the precocious launched Shakepay Visa Prepaid Card, and grow the team.

Speaking to Cointelegraph, ShakePay CEO Jean Amiouny said:

Shakepay’s seen request roar for adopting Bitcoin and we’re truly excited astir this rise to beryllium capable to connection much Bitcoin products to our chap Canadians."

The backing supports a swathe of encouraging stats for 2021. The institution surpassed $6 cardinal successful full measurement reaching much than 900,000 customers past year. 

According to the Shakepay blog, the institution reached 1% of Canada’s population, oregon 380,000 people, successful March past twelvemonth and 2% of the colonisation successful November. The institution grew its userbase by 381% successful 2021.

Canada is progressively becoming pro-Bitcoin. A caller survey showed that 62% of Canadians privation to get paid successful crypto by 2027, portion a Bitcoin ETF launched successful Canada precocious past year. 

For Shakepay, it’s each astir retail adoption, arsenic the radical seeks to marque “it casual for Canadians to bargain and gain the soundest wealth to ever exist: Bitcoin.”

Related: Canadian edifice concatenation reports earning 300% gains connected BTC concern to upwind pandemic

Jean Amiouny illustrated the company’s imaginativeness successful the authoritative announcement:

With our Series A funding, Shakepay is excited to invited QED Investors, who person heavy acquisition successful the fiscal exertion industry, and who volition enactment the continued maturation of Shakepay’s imaginativeness to beryllium a person successful fiscal applications that assistance Canadians execute fiscal wealthiness done investing successful bitcoin.”