Shakepay closes series A funding of $35M
Shakepay has announced a Series A funding round of 44 million Canadian dollars ($35 million USD).
Shakepay aims to bring more products to market
The Series A investment round was led by QED investors, a U.S.-based venture capital firm. Other participants in the round included Golden Ventures, Broadhaven, entrepreneurs Henri Machalani and Mike Murchison, and several product managers from e-commerce company Shopify. QED Investors partner Matt Burton will join Shakepay's board as part of the capital raise.With the money raised, Shakepay aims to bring more products to market that help its customers earn and access Bitcoin, such as the Shakepay Visa Prepaid Card, which launched in December 2021 180,000 customers nationwide. The Shake pay Card is a prepaid card in Canada that offers Bitcoin rewards when you spend your Canadian dollar balance at Visa-accepting merchants.
What is Shakepay?
Shakepay is a Montreal-based technology company that makes it easy for Canadians to buy and earn Bitcoin. The new funding comes against a backdrop of solid growth in 2021, when the company reached more than $6 billion in total volume, grew 381 percent to more than 900,000 customers, and increased its team from 20 to 75 employees."Shakepay has been able to build a very passionate community and find product market fit on multiple product lines which is rare in today's competitive environment," said Matt Burton in a press release.
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