South Africa’s Crypto Startup, CentBee, Raises $1 Million to Scale Cross-Border Bitcoin Remittances

The startup's expansion will be driven from its offices in South Africa. The startup has processed 35,000 remittance payments into Africa so far. The product has over 50, 000 customers on the CentBee wallet.

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Centbee, a South Africa/ UK blockchain payments company, has closed $1 million in pre-Series A funding led by Calvin Ayre, founder of Ayre Ventures.

Founded in 2017 by Lorien Gamaroff and Angus Brown who are co – CEOs, Centbee has developed its own digital cash wallet which runs on the BSV blockchain and powers Bitcoin transfers.

With the crypto infrastructure, customers can send digital money payments to friends and family overseas using Minit Money Centbee’s cross-border remittances service app.
Centbee uses the BSV ledger to record all remittance transactions immutably and is billed as a ‘true peer-to-peer’ electronic cash system for sending Bitcoin, thanks to a use case that’s driven by utility as opposed to currency speculation.

The company has also recently expanded its features roadmap and the new ChatPay option acts as an ‘in-wallet chat application’ for its Minit Money offering.

The startup also offers a number of digital cash products and services through a separate decentralized finance app.

“We have the right vision, products and team to drive exponential growth for our investors. Consumers around the world are looking for better, easier ways to pay and our blockchain-based payment wallet does just that. Our latest feature, ChatPay, makes it easy to send money via an in-wallet chat application,” said Gamaroff

Calvin Ayre’s injection of funds follows an earlier investment by his firm in 2019. The company intends to use the funds for scale and growth as well as strengthening technical and operating capacity.

“My faith in Centbee has been rewarded through Angus and Lorien’s ongoing commitment to making Bitcoin – the original protocol in the form of BSV – easily usable and accessible to everyone,” Ayre said.

See also

The startup’s expansion will be driven from its offices in South Africa, in addition to London, where it is headquartered. The startup has processed 35,000 remittance payments into Africa.

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