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Bottlepay is a technology company.
Bottlepay develops a global bitcoin payments application, built upon the Lightning Network, to facilitate instant, low-cost cross-border transactions. Its platform enables seamless management of transfers between Bitcoin and fiat currencies. The application focuses on an intuitive user experience, simplifying the sending, spending, and receiving of Bitcoin for its users.
Peter Cheyne founded Bottlepay in 2020. His insight centered on leveraging Bitcoin’s technology to democratize digital transactions, aiming to bridge traditional and crypto finance. Cheyne’s vision involves creating a user-friendly application to make micropayments and international transfers readily accessible.
The company targets individuals seeking efficient value transmission, including those sending money to family, purchasing online goods, and supporting content creators. Bottlepay’s vision emphasizes empowering a global network of instant, fee-free payments, aspiring to redefine financial accessibility and efficiency universally.
Bottlepay has raised $15.0M across 1 funding round.
Bottlepay has raised $15.0M in total across 1 funding round.
Bottlepay has raised $15.0M in total across 1 funding round.
Bottlepay's investors include FinTech Collective, Alan Howard, Phil Doye, NYDIG.
Bottlepay was a fintech startup that built a mobile app for Bitcoin-based payments, enabling users to send, receive, and spend Bitcoin or fiat (GBP/EUR) in real-time via social media platforms like Twitter, with support for micropayments as low as a penny and cross-border transactions. It targeted consumers and businesses seeking fast, low-cost alternatives to traditional payment rails, solving issues like high fees (20p-40p plus percentage) on small transactions and slow international transfers.[1][2][3] The app leveraged Bitcoin's Lightning Network for speed and cost efficiency, allowing seamless fiat-to-Bitcoin spending without technical knowledge, but ceased consumer operations in July 2023 despite remaining well-funded, with funds safeguarded via partners like Modulr.[6]
Bottlepay was co-founded in 2018 by Peter Cheyne and Peter O’Donoghue in Newcastle upon Tyne, UK, with an early focus on Bitcoin wallets and social payments.[4] An initial version launched around 2019 but shut down in May 2017—likely a predecessor effort—due to EU regulatory constraints, prompting a relaunch with UK FCA temporary registration.[1][4] The idea emerged to "bring Bitcoin to the masses" by integrating it into everyday social and micropayments, gaining traction with a February 2021 app launch and £11M ($15M) seed round led by Alan Howard (Brevan Howard), Goldman Sachs partners, FinTech Collective, and NYDIG, valuing it at £51M post-money.[3][4] CEO Mark Webster highlighted its revolutionary infrastructure ambitions.[3]
Bottlepay rode the early 2020s Bitcoin Lightning Network wave, capitalizing on scaling solutions to make crypto viable for everyday payments amid rising fintech adoption and crypto mainstreaming.[3] Timing aligned with post-2020 crypto bull market, regulatory shifts (UK FCA sandbox), and demand for borderless, instant alternatives to Visa/Mastercard amid high remittance costs ($700B+ global market).[2] It influenced the ecosystem by pioneering social crypto payments, inspiring competitors like BitPay, CoinGate, and Triple-A in crypto gateways, while highlighting regulatory hurdles—its shutdown underscored compliance burdens on crypto startups.[1][6] Market forces like Lightning's growth (cheaper txns) and social commerce trends favored it, but pivoted amid maturing fiat-crypto bridges.
Bottlepay's arc—from 2021 hype with $15M funding and social Bitcoin innovation to 2023 consumer app closure—exemplifies crypto fintech's high-stakes regulatory and pivot risks, with its tech absorbed into acquirer NYDIG's portfolio (post-2021 acquisition).[1][6] What's next likely involves its IP fueling enterprise B2B payments or Lightning tools under NYDIG, as consumer ops were deprioritized despite funding. Trends like Bitcoin ETF approvals, Lightning adoption (e.g., for remittances), and Web3 socialfi will shape successors, potentially evolving its influence into embedded finance where crypto micropayments power creator economies and global P2P. This disruptor's legacy ties back to its core promise: rewriting payments with Bitcoin's openness, now ripe for revival in a more regulated era.
Bottlepay has raised $15.0M across 1 funding round. Most recently, it raised $15.0M Seed in February 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Feb 1, 2021 | $15.0M Seed | FinTech Collective, Alan Howard, Phil Doye, NYDIG |