About Bitt
Bitt is a company based in Bridgetown (Barbados) founded in 2014 was acquired by Medici Ventures in October 2020.. Bitt has raised $24.5 million across 4 funding rounds from investors including Medici Ventures, Avatar Securities and Medici Ventures. Bitt offers products and services including DCMS and Advisory Services. Bitt operates in a competitive market with competitors including Ripple, BitPay, Coinify, IOTA and Zebec, among others.
- Headquarter Bridgetown, Barbados
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
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- Legal Name Bitt Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$24.5 M (USD)
in 4 rounds
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Latest Funding Round
$3 M (USD), Series A
Mar 08, 2018
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Investors
Medici Ventures
& 2 more
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Employee Count
Employee Count
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Acquired by
Medici Ventures
(Oct 28, 2020)
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Products & Services of Bitt
Bitt offers a comprehensive portfolio of products and services, including DCMS and Advisory Services. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
System for managing CBDC transactions and blockchain integrations
Guidance on digital currency strategies and deployments
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Funding Insights of Bitt
Bitt has successfully raised a total of $24.5M across 4 strategic funding rounds. The most recent funding activity was a Series A round of $3 million completed in March 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series A — $3.0M
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First Round
First Round
(30 Mar 2015)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2018 | Amount | Series A - Bitt | Valuation |
investors |
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| Apr, 2016 | Amount | Series A - Bitt | Valuation |
investors |
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| Jan, 2016 | Amount | Series A - Bitt | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Bitt
Bitt has secured backing from 3 investors, including institutional and venture fund investors. Prominent investors backing the company include Medici Ventures, Avatar Securities and Medici Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Medici Ventures is focused on advancing blockchain technology.
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location | |
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Avatar Securities is recognized as a proprietary trading firm.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Bitt
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Bitt
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Bitt Comparisons
Competitors of Bitt
Bitt operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Ripple, BitPay, Coinify, IOTA and Zebec, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Blockchain-based payment network for cross-border transfers is developed.
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| domain | founded_year | HQ Location |
Crypto payments are managed via apps for users and merchants.
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| domain | founded_year | HQ Location |
Crypto-based payment solution for consumers and businesses
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| domain | founded_year | HQ Location |
Decentralized infrastructure is developed for building and securing digital interactions.
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| domain | founded_year | HQ Location |
Cryptocurrency payments and transactions are enabled through the platform.
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| domain | founded_year | HQ Location |
Blockchain infrastructure is delivered for payments and banking solutions.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Bitt
Frequently Asked Questions about Bitt
When was Bitt founded?
Bitt was founded in 2014 and raised its 1st funding round 1 year after it was founded.
Where is Bitt located?
Bitt is headquartered in Bridgetown, Barbados.
Is Bitt a funded company?
Bitt is a funded company, having raised a total of $24.5M across 4 funding rounds to date. The company's 1st funding round was a Series A of $4M, raised on Mar 30, 2015.
What does Bitt do?
Bitt was established in 2014 in Bridgetown, Barbados, as a digital asset exchange in the cryptocurrency sector. Operations include a high-frequency trading platform and banking facilities that accommodate multiple major international fiat currencies. Services focus on secure trading and financial integration across the Caribbean region and beyond, supporting global users in asset management.
What products or services does Bitt offer?
Bitt offers DCMS and Advisory Services.
Who are Bitt's investors?
Bitt has 3 investors. Key investors include Medici Ventures, Avatar Securities, and Medici Ventures.
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