Bitpay

FinTech

Founded: 2011

Last Round Valuation: $366.18MM

BitPay is an intelligent and highly secure cryptocurrency application that empowers users to seamlessly purchase, store, exchange, and utilize cryptocurrencies. With BitPay, individuals can effortlessly convert their Bitcoin and other cryptocurrencies into traditional currencies using the BitPay crypto debit card, enabling them to effortlessly spend their digital assets in everyday transactions. Additionally, BitPay offers an automatic cash back feature, allowing users to earn rewards while utilizing their cryptocurrencies. The company was established in 2011 by Anthony Gallippi and Stephen Pair, and it has its headquarters situated in Atlanta, Georgia. With their deep understanding of the cryptocurrency landscape and a vision for providing user-friendly solutions, Gallippi and Pair have driven BitPay's success in becoming a trusted platform for managing and utilizing cryptocurrencies securely and efficiently.

Bitpay Overview:

BitPay is a well-established and widely recognized cryptocurrency application that offers users a comprehensive suite of features for buying, storing, swapping, and spending cryptocurrencies. With a focus on security and user-friendliness, BitPay has gained popularity among individuals and businesses looking to integrate cryptocurrencies into their daily lives and operations.

One of the key functionalities provided by BitPay is the ability to convert cryptocurrencies, particularly Bitcoin, into traditional currencies through the BitPay crypto debit card. This feature allows users to easily spend their digital assets at millions of locations worldwide, as the card is accepted wherever traditional debit cards are recognized. By facilitating seamless transactions, BitPay aims to bridge the gap between cryptocurrencies and everyday commerce, making it more convenient for users to utilize their digital assets in real-world scenarios.

Additionally, BitPay offers an automatic cash back program, which allows users to earn rewards when using their BitPay debit card. This incentivizes the use of cryptocurrencies by providing users with additional value and benefits, further enhancing the overall user experience.

BitPay places a strong emphasis on security and has implemented robust measures to ensure the protection of user funds and sensitive information. The platform utilizes industry-leading encryption techniques and follows strict security protocols to safeguard user data and transactions. By prioritizing security, BitPay aims to provide users with peace of mind when transacting with cryptocurrencies.

Founded in 2011 by Anthony Gallippi and Stephen Pair, BitPay has a solid foundation in the cryptocurrency industry. Anthony Gallippi, with his extensive experience in the payments industry, and Stephen Pair, a skilled technologist, brought their expertise together to create a platform that simplifies cryptocurrency transactions for both individuals and businesses.

BitPay is headquartered in Atlanta, Georgia, and has established itself as a prominent player in the cryptocurrency space. It has gained recognition for its user-friendly interface, reliable services, and commitment to security. The platform has expanded its user base globally, catering to individuals, merchants, and enterprises seeking to harness the benefits of cryptocurrencies in their financial activities.

Overall, BitPay provides a comprehensive and secure solution for individuals and businesses to seamlessly manage their cryptocurrencies and transact with ease. With its focus on user-friendliness, security, and integration with traditional financial systems, BitPay has positioned itself as a trusted and accessible platform for unlocking the full potential of cryptocurrencies in everyday life.

Founders:

  • Tony Gallippi

  • Stephen Pair

Top Investors:

  • Index Ventures

  • Horizons Ventures

  • Founders Fund

  • Aquiline Capital Partners
  • Menlo Ventures
  • Capital Nine
  • Virgin Group

  • Foundry Group

  • Shakil Khan
  • Barry Silbert
  • Jimmy Furland

Funding History:


Date Share Type Amount Raised Raised to Date Issue Price Post Money Valuation Key Investors
Apr 2018 Series B $16.31MM $49.51MM $3.44 $366.18MM Aquiline Capital Partners, Menlo Ventures, Capital Nine
Apr 2018 Series B-1 $27.14MM $60.34MM $5.09 $366.18MM Aquiline Capital Partners, Menlo Ventures, Capital Nine
May 2014 Series A $30.5MM $33.2MM $2.66 $161.16MM Index Ventures, Horizons Ventures, Founders Fund
May 2013 Series Seed-2 $2MM $2.7MM $0.43 $21MM Founders Fund
Jan 2013 Series Seed $700K $700K $0.10 $4.38MM Shakil Khan, Barry Silbert, Jimmy Furland

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