The US and Africa-based blockchain payments startup Bitmama has raised an additional $1.65 million in funding, bringing its total pre-seed round to $2 million.
The new pre-seed round will be used to expand the company’s operational presence, strengthen its team across different markets, consolidate its product offerings, and plot market penetration across Africa. With this expansion, it seeks to rapidly scale new use cases for cryptocurrency within the continent.
Currently present in Nigeria, Ghana, and Kenya, Bitmama enables its users to trade several cryptocurrencies, use their debit cards for regular online payments, pay utilities and perform transactions such as staking to hedge against currency devaluation.