vipaa Brazilian startup aiming to simplify financial transactions through Bitcoin, has announced that it has successfully closed a seed investment round, raising 8 million reais (about $1.4 million).
Prominent investors include New Form Capital and others. A venture capital fund focused on early-stage startups involved in blockchain technology and financial markets, and Hivemind Ventures, which invests in Bitcoin-focused startups, both making their first investments in the Brazilian market through this round. did
Founded in 2020 by Luis Parreira, Bipa removes barriers to entry by offering a user-friendly digital account connected to the instant payment networks PIX (Brazilian Real) and Lightning (Bitcoin). aims to promote the use of According to a press release sent to Bitcoin Magazine, the startup will appeal to users who find the buying and selling process of bitcoin difficult and have a hard time understanding the exchange’s operation, as well as a broad audience seeking simplicity and convenience. It aims to respond to
The press release states that the funds raised will help Bipa expand its market, acquire new users and develop new business-to-consumer (B2C) products. “Our mission is to get people using the Bipa application to pay for their coffee every morning,” Parreira said. Bitcoin usage is still niche in Brazil today, and Bipa is primarily focused on the local community. However, the company plans to expand its reach and bring the financial and technological revolution of Bitcoin to more individuals.
In line with its growth plans, Bipa unveiled a new visual identity that emphasizes accessibility and simplicity. The relaunched brand features a spring-shaped ‘B’ logo that symbolizes impulse and embraces a vibrant and colorful palette. Parreira said the rebranding effort and improved user experience will encourage people outside the current Bitcoin ecosystem to join Bipa, drawing more than 15 million Brazilians into the Bitcoin community. I hope you are on target.
According to data from the Investor X-Ray report by the Association of Brazilian Financial Market Associations (Anbima), about 6 million Brazilians, about 3% of the population, have declared their investments in cryptocurrencies. With this investment round, Bipa aims to tap into the potential of this market and become the go-to choice for those seeking an entry point into the Bitcoin industry.