International VC Fund Takes a Scale Up Stake in South Africa’s CentBee, a Bitcoin SV-Only Wallet, After Raising £1 Million

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[PRESS RELEASE] 21st Feb 2020

Amsterdam-based venture capital fund, Two Hop Ventures, has announced that it has taken a stake in South Africa-based BitcoinSV (BSV) wallet provider, Centbee.

Centbee is growing globally from its base in South Africa. The deal comes after South African-based venture capital fund Paper Plane Ventures successfully exited to Two Hop.

Centbee was in the news last year when it raised £1 million in a Series A round from Canadian-born billionaire entrepreneur Calvin Ayre.

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Speaking about the new stake in CentBee, Jan Smit, co-founder, Two Hop, said:

“Not only is Centbee one of the most used wallets in the BitcoinSV (BSV) ecosystem, it’s building products and services with a strong focus on regulatory compliance. The senior management team come from strong professional and corporate backgrounds including software engineering, banking, payments, accounting and finance.

We believe its professionalism and strong businesses acumen will enable Centbee to branch into many adjacent services and geographies which competitors are less likely to address. The Two Hop team is looking forward to supporting the Centbee team on this journey.”

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Michael Stannard of Paper Plane Ventures, said:

“We’re proud to have supported Centbee from its early days as a small start-up to becoming a formidable player in the crypto-asset space. We look forward to watching the fintech grow.”

Angus Brown, co-CEO of Centbee, said:

“This deal demonstrates the potential for Centbee and other BitcoinSV (BSV) companies to deliver real value for both investors, industry stakeholders and consumers. We’ve enjoyed a high user growth rate and have a clear path to revenue. With Two Hop’s support, we’ll continue building more utility into our products by leveraging the BitcoinSV (BSV) blockchain and delivering world class app functionality to our users.”

About Centbee

Centbee is a BitcoinSV (BSV) wallet provider that makes it easy for global consumers to buy, keep and send BitcoinSV to their friends using their mobile phone.

 

About Two Hop Ventures

Two Hop Ventures is a venture capital fund based in the Netherlands. It invests exclusively in companies leveraging the BitcoinSV (BSV) blockchain. Two Hop’s investment targets are enabling technologies such as Identity as a Service (IDaaS), Indexing, Remittance and Document

 

 

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