How Much Did BitPay Raise? Funding & Key Investors

Date
March 31, 2025
BitPay

Total amount raised

$114.3 Millions

Latest funding date

BitPay

Location

Title

LINKEDIN

https://www.crunchbase.com/organization/bitpay/financial_details
Use Clay to find other emails
Status
Verified
Use Clay's email finder to get anyone's work email in seconds.

BitPay has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The company offers a comprehensive suite of cryptocurrency payment solutions for both individuals and businesses.

Continue reading to delve into the details of BitPay's funding journey and the key investors supporting this innovative platform.

What Is BitPay?

BitPay, founded in 2011 by Anthony Gallippi and Stephen Pair, is headquartered in Atlanta, Georgia. The company specializes in providing enterprise-grade bitcoin payment solutions for businesses and organizations.

BitPay offers a range of services, including a bitcoin payment gateway API, native payment protocol support, and a bitcoin wallet solution with hardware security integration. Their products cater to both individuals and businesses, enabling seamless cryptocurrency transactions.

With a team of 101-250 employees, BitPay continues to innovate in the cryptocurrency space, offering solutions like BitPay Bill Pay, BitPay Card, and BitPay Merchant to facilitate crypto payments and management.

How Much Funding Has BitPay Raised?

  1. Seed Round
    • Amount Raised: $510K
    • Date: January 2013
    • Lead Investors: Not publicly disclosed
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To kickstart the company's operations and develop initial product offerings.
  2. Seed Round
    • Amount Raised: $2M
    • Date: May 2013
    • Lead Investors: Founders Fund
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To expand the team and scale the product development.
  3. Series A
    • Amount Raised: $30M
    • Date: May 2014
    • Lead Investors: Index Ventures
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To enhance the platform's capabilities and increase market reach.
  4. Series B
    • Amount Raised: $30M
    • Date: December 2017
    • Lead Investors: Aquiline Technology Growth
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To support international expansion and regulatory compliance.
  5. Venture Round
    • Amount Raised: Not publicly disclosed
    • Date: January 2018
    • Lead Investors: Virgin Group
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To further develop the company's technology and expand its market presence.
  6. Series B
    • Amount Raised: $10M
    • Date: April 2018
    • Lead Investors: Aquiline Capital Partners
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To expand operations in Asia and hire new engineers.
  7. Venture Round
    • Amount Raised: Not publicly disclosed
    • Date: June 2020
    • Lead Investors: Not publicly disclosed
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To support ongoing product development and market expansion.
  8. Secondary Market
    • Amount Raised: $40M
    • Date: May 2021
    • Lead Investors: Menlo Ventures
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To provide liquidity to early investors and employees.
  9. Venture Round
    • Amount Raised: Not publicly disclosed
    • Date: June 2021
    • Lead Investors: Not publicly disclosed
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To continue scaling the business and enhancing product offerings.
  10. Series B
    • Amount Raised: $1.8M
    • Date: July 2021
    • Lead Investors: Not publicly disclosed
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To support strategic growth initiatives and product innovation.

Total amount raised: $114.31M. Current valuation: Not publicly disclosed.

Key Investors

  • Menlo Ventures
    • Details: Menlo Ventures is a venture capital firm that has been investing in technology companies since 1976. They have a strong track record of backing successful startups.
    • Investment Focus Areas: Technology, healthcare, consumer services.
    • Notable Investments: Uber, Tumblr, Roku.
  • Aquiline Technology Growth
    • Details: Aquiline Technology Growth (ATG) is a growth equity firm that focuses on technology investments. They led BitPay's Series B funding round.
    • Investment Focus Areas: Technology growth, financial services, insurance.
    • Notable Investments: Not publicly disclosed.
  • Virgin Group
    • Details: Virgin Group is a British multinational venture capital conglomerate founded by Sir Richard Branson. They have a diverse portfolio of investments across various sectors.
    • Investment Focus Areas: Travel, telecommunications, health and wellness.
    • Notable Investments: Virgin Atlantic, Virgin Galactic, Virgin Media.
  • Aquiline Capital Partners
    • Details: Aquiline Capital Partners is a private equity firm investing in financial services and technology. They participated in BitPay's Series B funding round.
    • Investment Focus Areas: Financial services, technology, healthcare.
    • Notable Investments: Not publicly disclosed.
  • Index Ventures
    • Details: Index Ventures is a global venture capital firm that invests in technology-enabled companies. They led BitPay's Series A funding round.
    • Investment Focus Areas: Technology, life sciences, consumer products.
    • Notable Investments: Dropbox, Slack, Etsy.

What's Next for BitPay?

BitPay is poised to capitalize on the burgeoning interest in blockchain technology, with plans to expand operations in Asia and hire new engineers. The company processes nearly $2 billion in annualized payment volumes, highlighting the significant market opportunity ahead.

Future fundraising seems likely, given the high demand for their Series B round. This could support further technological acquisitions and regulatory licensing efforts. However, BitPay will need to navigate regulatory challenges and fierce competition in the blockchain payment space to maintain its growth trajectory.

Use Clay to Get Funding Data

Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like BitPay and gather other critical business insights.

Sign up for free on Clay and start making data-driven decisions today.

Share Article

Get access to more people and company data using Clay

Leverage the power of 100+ data providers for industry-leading data coverage & quality.

4.9 rating

Try for free

More Articles