BTC Direct, a Netherland-based fiat-to-crypto gateway platform, has raised around $13 Million in a Series A funding round. The funding round has brought in a new lease of life for the startup, which has been funded and run by its founders. The lead investors of the Series A remain undisclosed.
Toon Schraven, head of marketing and communications at BTC Direct, revealed that the Series A funding round was backed by a European investment group and several other private investors. The platform revealed that it would utilize the new funds to expand its workforce and expand its services and develop new products. The firm would also utilize a portion of the fund for broadening its marketing efforts.
The fiat-to-crypto gateway was launched in 2013 as a crypto brokerage service, which later started to offer fiat-to-crypto on-ramp to crypto exchange wallets service providers. Apart from the brokerage and gateway services, BTC Direct also runs a crypto trading app known as BLOX and a private trading desk and hardware wallet service.
Mike Hutting, the CEO of BTC Direct, commented on Series A to find raise and said that the funding round would surely boost their morals and services. They are planning to utilize these funds to make their platform more user-friendly and develop new products. He said,
“Continuous focus is being spent on product development and broadening our marketing efforts.”