Bitstack, a young French startup with an innovative concept, has just raised €1 million in its first round of funding. Many investors from the French cryptocurrency ecosystem participated, including Hasheur or Nicolas Bacca, co-founder of Ledger. Bitstack now has all the cards in hand to develop its business and participate in the adoption of Bitcoin.
Bitstack closes with €1 million
French startup Bitstack, based directly in the heart of Station F in Paris, has just raised €1 million in its pre-seed phase from various French and international investors.
The round was led by French investment fund Founders Future alongside Plug and Play Tech Center and Sharpstone Capital.
Personalities from the French cryptocurrency ecosystem also responded, such as Alexandre Stachtchenko and Claire Balva from KPMG, Owen Simonin (better known as Hasheur), Damien Guermonprez from Lemonway or Nicolas Bacca, co-founder of Ledger.
The project to facilitate savings in Bitcoin (BTC), as proposed by Bitstack, will therefore be financially propelled in order to start in the best conditions, as Marc Ménasé, the founder of Founders Future, declared:
Bitstack is part of the democratization of cryptocurrencies by providing a fun solution that can be used by millions of consumers who want to save money on a daily basis. We are delighted to support Alexandre and Kabir’s company and to bring them our BtoC and fintech know-how. “
A strategic investment for all the entities present, since saving in Bitcoin is becoming a reference model. Indeed, in the face of an inflationary banking system, crypto-currencies and especially Bitcoin are gradually becoming an investment of choice for the French.
According to a study conducted by KPMG in collaboration with Cryptoast, 8% of French people already own cryptocurrencies and 30% are considering acquiring them. Bitstack wanted to seize the opportunity by offering an easy and accessible Bitcoin savings
Bitcoin savings made in France
Founded by Alexandre Roubaud and Kabir Sethi, two young French entrepreneurs, Bitstack offers a totally innovative savings system in two ways.
First of all, the application proposes to automatically round up the amount of your daily purchases to the next euro in order to invest the difference in Bitcoin, an exclusive system that greatly facilitates investment.
The founders of Bitstack. On the left, Alexandre Roubaud. On the right, Kabir Sethi.
In addition to this automatic rounding feature, Bitstack also offers a recurring BTC purchase function, which each user can set according to his or her budget allocated to Bitcoin investment.
Bitstack thus chooses to rely on a Dollar Cost Averaging (DCA) strategy, which is well known in the cryptocurrency sector. Indeed, by investing on a regular basis, it allows to smooth out its gains over the long term, making its investments almost impervious to market fluctuations.
Diagram of the Dollar Cost Averaging strategy
Because of these innovative principles, Bitstack is on the list of 100 startups to invest in according to the business magazine Challenges.
In addition, in parallel to its website, Bitstack offers a very simple mobile application, designed to be accessible to all, without the need for any investment skills.
