South Africa’s Internet giants raised $4 million for BitX
In the new round of led by South Africa’s third big investment company Naspers group, bitcoin multinational platform BitX has raised $4 million. This round of investment is raised by the Internet giant’s global payment subsidiary PayU and Silbert digital currency group. As part of the deal, JamesCaviness PayU’s chief product officer, will join the BitX board of directors.
“We see the bright future of crypto currency from the vertical market, and BitX has a strong management team and a good performance record, expect to be able to use Naspers’s global platform and professional knowledge to help them take advantage of these opportunities.”
Although the BitX is only the beginning of a South African local exchange, for the whole of Southeast Asia and Africa markets provide a wallet, exchange and business services, but in the past year, it is obvious to people the rapid growth of the company.
The company has invested a lot of time to establish the field relations, and through the local staff of the branch recruitment, with iOS and Android applications, also increased investment in mobile application. Now, it has been described as “developing computing devices genuine goods at a fair price. Moreover, the platform is located in Singapore, in emerging markets is also known as the size of the largest companies in all encryption currency.
The rapid growth of the market
Naspers was founded in 1915, to provide services for more than 130 countries around the world. It is a public organization across the network, multimedia and video publishing. Its market value has reached 41 billion 860 million pounds, has become the third largest company in South africa.
BitX co-founder and CEO Marcus Swanepoel said the experience with BitX in this regard, ambition:
“At Naspers, we have a truly global partners, and it has excellent ability to control the rapid growth of the market, we are very pleased to be able to through cooperation, to establish a common platform around the world together.”
BitX first acquisition of South Africa’s Switchless in 2013. Last August, it from investors, including Ariadne and Barry Hilbert capital bitcoin opportunities group raised a sum of 1 million pounds ($824 thousand) of the Sultan seed capital. As the previous round of investment, the BitX said, A round of investment to help accelerate the company’s growth.
Swanepoel added: “the cost structure of all thanks to our unique and competitive, a new round of financing is significant, can help expand the business.”