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§ Private Profile · Stockholm, Sweden
Bitcoin and cryptocurrency e-commerce platform to use digital assets for gift cards, mobile recharges, and bill payments.
Based in Sweden, Bitrefill is a cryptocurrency e-commerce platform that enables users to spend digital assets on everyday retail purchases. The company operates a global digital marketplace offering gift cards, mobile phone top-ups, eSIMs, and prepaid debit cards across more than 10,000 brands and 900 telecommunications carriers. With a workforce of 76 employees, the enterprise serves cryptocurrency holders in over 170 countries and has raised less than $10 million in lifetime funding. The platform functions as a prominent facilitator for Bitcoin transactions and acts as a recognized developer in Lightning Network infrastructure through its pioneering Thor service. Additionally, the system expanded its financial services functionality to allow users to execute direct cryptocurrency payments for credit card bills, residential mortgages, utilities, and taxes. Bitrefill was officially founded in 2014 by chief executive officer Sergej Kotliar.
Bitrefill has raised $2.0M across 1 funding round.
Bitrefill has raised $2.0M in total across 1 funding round.
Bitrefill has raised $2.0M across 1 funding round. Most recently, it raised $2.0M Seed in June 2019.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jun 1, 2019 | $2M Seed | Coin Ninja | Fulgur Ventures, Charlie LEE, Bnktothefuture | Announced |
Bitrefill has raised $2.0M in total across 1 funding round.
Bitrefill's investors include Coin Ninja, Fulgur Ventures, Charlie Lee, BnkToTheFuture.
Bitrefill is a crypto e-commerce platform that enables users to purchase digital gift cards, mobile airtime refills, eSIMs, and bill payments using Bitcoin, Lightning Network, Ethereum, USDC, USDT, and other cryptocurrencies, serving a global audience in over 180 countries.[1][2][3][4] It targets crypto enthusiasts and everyday users aiming to "Live on Crypto" by converting digital assets into real-world goods and services from brands like Amazon, Starbucks, Walmart, Netflix, Uber, and Roblox, solving the problem of limited cryptocurrency spending options with instant, no-KYC delivery for most transactions and built-in cashback rewards.[2][3][6] The platform has demonstrated growth through seed funding exceeding $2 million in 2019 (including from Litecoin founder Charlie Lee) and a $7 million round announced in April 2021, alongside expansions into eSIMs and a Visa card for EU users.[3][4]
Bitrefill was founded in 2014 in Stockholm, Sweden, by Michael Grberger, Gustav, and Sergej Kotliar, initially operating as Pupot AB before rebranding.[1][3] The idea emerged to bridge cryptocurrencies with everyday purchases, starting with digital gift cards and airtime refills to help users spend Bitcoin on practical needs amid growing crypto adoption.[1][2][4] Early traction came from leveraging the Lightning Network for fast transactions, leading to partnerships with over 3,500 businesses worldwide; pivotal moments include 2019 seed funding that broadened services and the 2021 $7 million round fueling global expansion and new features like eSIM integration.[3][4]
Bitrefill rides the wave of cryptocurrency mainstreaming and Lightning Network scalability, enabling "living on crypto" as adoption grows amid rising Bitcoin ETFs, stablecoin usage, and demand for practical spending tools.[1][2][4] Timing aligns with post-2021 bull market funding and eSIM proliferation for borderless data, countering fiat on-ramps' KYC hurdles while partnering with telecoms for high-quality global connectivity.[3][4] It influences the ecosystem by normalizing crypto for daily expenses, boosting Lightning usage, and competing with platforms like Coinsbee by emphasizing speed and no-friction access, thus accelerating crypto's shift from speculation to utility.[1][2]
Bitrefill is poised to expand bill payments globally, enhance its Visa card rollout beyond the EU, and deepen eSIM/travel integrations as crypto wallets proliferate and regulations ease cross-border spending.[2][3][4] Trends like layer-2 scaling, stablecoin dominance, and Web3 commerce will propel its growth, potentially solidifying it as the go-to for frictionless crypto-to-real-world conversions in an increasingly on-chain economy. This positions Bitrefill to further empower users to "Live on Crypto," evolving from a niche refill service into a cornerstone of everyday digital finance.[2][4]