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South African Bitcoin Startup, Centbee says that it has closed its £1 million Series A round from Calvin Ayre, founder of Antigua-based investment firm, Ayre Ventures and CoinGeek. The company intends to use the funds to scale its blockchain technology.

The deal was facilitated by nChain, a blockchain advisory, research, and development firm, which previously took an equity stake in Centbee in January 2018.

Bitcoin

Jimmy Nguyen, Chair of nChain Group’s Strategic Advisory Board and Founding President of the Bitcoin Association remarked: “This enables Centbee to offer low fees and fast transaction speeds. We will continue to work with Centbee as it sparks greater merchant and consumer adoption of Bitcoin BSV in Africa and worldwide.”

Lorien Gamaroff, the Centbee founder, says he is pleased with the progress made over the last few months, “Our development roadmap is well defined with exciting payment and remittance products coming to market this year. We look forward to the next phase in our growth and development.”

Centbee is a Bitcoin wallet provider that makes it easy for consumers to acquire, store and spend Bitcoin with retailers and other merchants.

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