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§ Private Profile · Draper, UT, USA
Develops blockchain digital currency solutions, including CBDCs and stablecoins, for central banks and financial institutions.
Bitt is a Draper, Utah-based financial technology company with operations in Barbados that develops blockchain-based digital currency solutions, including a Digital Currency Management System for issuing central bank digital currencies and stablecoins. The company licenses its software platforms and provides advisory services to central banks, financial institutions, and governments, primarily focusing on emerging markets and the Caribbean region. Bitt has partnered with notable regional institutions to deploy its technology, including the Eastern Caribbean Central Bank and the Central Bank of Barbados, which approved the company's digitized fiat currency. To support its digital asset exchange, mobile wallet, and remittance infrastructure, the enterprise has raised $24.5 million in total venture funding from institutional investors such as Overstock's Medici Ventures and Avatar. The organization was originally founded in 2013 by entrepreneur and chief executive officer Gabriel Abed.
Bitt has raised $28.5M across 4 funding rounds.
Bitt has raised $28.5M in total across 4 funding rounds.
Bitt has raised $28.5M across 4 funding rounds. Most recently, it raised $8.0M Other Equity in October 2020.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Oct 28, 2020 | $8M Venture Round | Jonathan Johnson | — | Announced |
| Mar 8, 2018 | $3M Venture Round | ALI EL Husseini | — | Announced |
| Apr 5, 2016 | $16M Series A | Patrick Byrne | — | Announced |
| Apr 5, 2015 | $1.5M Seed | Peter George | — | Announced |
Bitt has raised $28.5M in total across 4 funding rounds.
Bitt's investors include Jonathan Johnson, Ali El Husseini, Patrick Byrne, Peter George.