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Galoy raises $ 3 million to make Bitcoin easier to use as money

The company recently announced that it has completed a $ 3 million seed funding round. Kingsway Capital, Trammel Venture Partners and Balaji Srinivasan joined Craft Ventures. Participants in the seed round also include Fulgur Ventures, Bitcoiner Ventures and the renowned Angels Vijay Boyapati and Brad Mills. Galoy is a company that makes it easy for any community or institution to offer financial services on Bitcoin. And Galoy’s open source Bitcoin banking platform includes a secure back-end API, mobile wallets, point-of-sale apps, compliance tools and administrative controls. In addition, Galoy’s proof of concept Bitcoin Beach Wallet helped create a circular bitcoin economy, which inspired nation states to adopt Bitcoin as legal tender in El Salvador.

– Communities: cities, religious organizations, charities – enable the creation of circular Bitcoin economies, both locally and globally

The platform was developed for a large number of customers. Examples include:

– Governments: cities, countries, authorities – Providing 21st century financial services directly to their citizens

– Corporations: banks, retailers, consumer goods companies – offer their retail customers novel Bitcoin experiences

The Galoy tech stack includes extensive functionality for starting a Bitcoin bank – a secure backend API, mobile wallets, point of sale apps, compliance tools and administrative controls. And Galoy also offers hosted Banking-as-a-Service (BaaS) solutions for those looking for fully managed implementations and support. The complete code base is open source and is available for everyone to view, review and use on GitHub.


– Co-founder and CEO Nicolas Burtey

“The Bitcoin protocol offers an open and internet-native alternative to the closed and approved traditional financial system. We created Galoy to help any community or institution adopt this novel standard and connect to the world’s leading currency network. “

“Twenty years ago it was costly and tedious to start a software company. Today this can be done easily, quickly and inexpensively – thanks to the widespread acceptance of cloud computing offers.

“Galoy is committed to changing the world of financial services in a similar way. In the years to come, our customers will be able to bring full-service Bitcoin banking solutions to market with little more than the push of a button. “

“We believe that Bitcoin is one of the most important technologies that mankind has ever invented. The Galoy team is proud to be at the forefront of the launch and excited to bring Bitcoin to the first billion people. “

– Co-Founder and President Chris Hunter

“We are witnessing how Lightning accelerates the development of Bitcoin from a speculative asset to a conventional means of payment. Galoy is building a platform that will make it easy for anyone in the world to use Bitcoin for money. “

– Lead seed round investor Brian Murray, COO and partner at Craft Ventures

– Manuel Stotz, founder of Kingsway Capital

“Galoy invents Bitcoin tools at the interface of SaaS and Frontier Markets. In El Salvador, the team has already produced a successful proof of concept. This can serve as a model for leading companies in emerging markets. “

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