Bitfinance Raises Additional Funding
Blockchain startup, BitFinance, has raised more funding from a local angel investor. The start-up, which has a pan-African vision, raised an undisclosed amount from Taurai Chinyamakobvu. The funding, availed in crypto-currency, will be applied towards scaling the company’s operations in preparation for pan-African growth. Bitfinance currently runs a bitcoin exchange in Zimbabwe, which is a full node on the Bitcoin blockchain.
Bitfinance started operations in 2015, and has seen significant growth in trading. It is currently in the process of adding other crypto-currency options on its trading platform. BitFinance received its first funding from Savannah Fund in 2015, where it was in Savannah Fund’s 4th accelerator class, in Kenya.
“Our vision is continental, and this kind of funding provides us with firm grounding to move forward. Mr. Chinyamakobvu has provided us funding before, and this additional funding demonstrates the confidence he has in our vision – more so, when it is very difficult for start-ups in Zimbabwe to raise funding,” said Tawanda Kembo, BitFinance’s CEO.
Prior to this funding, Taurai Chinyamakobvu was already an angel investor in Bitfinance. A player in the fintech space, he is a believer in the ability of technology to transform the continent. “Bitcoin brought us the blockchain technology, which is by far the most significant disruptive innovation that radically transforms the way we think about money. I believe that Africa has a rare window to utilize this innovation to help rewrite the rules of global finance. Blockchain is so dynamic as to have multiple use cases and applications outside finance. This is why we must tirelessly support blockchain start-ups such as Bitfinance,” he said.
BitFinance’s operates a cryptocurrency exchange providing users with access to crypto-currencies, a new asset class. The exchange, www.bitcoinfundi.com is an online platform where crypto-currencies can be traded. The exchange comes with a wallet service in which digital coins can be stored.