Bottlepay hits £51m valuation after seed round close

Real-time global payments system Bottlepay has raised £11m in its seed round to continue its aggressive hiring streak.

This seed round puts Bottlepay’s post-money valuation at £51m.

Investors to the round include British fund manager Alan Howard, present and former Goldman Sachs partners, FinTech Collective, NYDIG and tech entrepreneur Phil Doye.

Over the past year, the company has been on a hiring spree, having increased its team by more than 200%. With the extra cash, the FinTech is looking to continue this and grow its team by a further 60%.

Capital will also be used to increase the geographical reach of its services.

Bottlepay claims to be a new payment system for the new digital economy and cashless society. Its goal is to supply everyone with an open payment network that allows them to send, spend and receive money anywhere in the world, in real-time.

Its platform supports instant payments in conventional currencies and bitcoin.

The app also empowers social payments with a single tweet, message or social media post on platforms such as Twitter, Reddit and Discord.

FinTech Collective principal and head of digital assets Sean Lippel said, “While nearly 65 million people own Bitcoin globally, only a small fraction of that number actually transact daily, meaning we’ve only just begun to scratch the surface on the broader payment use cases for Bitcoin as an open-source money network.

“We believe Bottlepay’s elegant and intuitive consumer interface, built strategically on top of the power of the Lightning Network, will unlock social, streaming, and micropayments for digital assets.

“We were attracted to the team’s unique combination of technical and design talent, bound together with a laser-focus on privacy and regulatory compliance.”

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