Bitstack Analysis: $1M Raised
What is Bitstack?
Bitstack is a mobile app for buying, selling, sending, and receiving Bitcoin, with automated saving features. It lets users invest spare change from card purchases, schedule recurring Bitcoin buys, and receive salary deposits in Bitcoin. The company says it serves over 300,000 users and is licensed as a Crypto-Assets Service Provider by the French Financial Markets Authority.
Location
5, Rue Eugène Freyssinet, Paris, 75013, FR
Employees
11-50
Founded
2021
Revenue
$3.5M
Company Stage
Seed
YC Batch
S22
Product Features & Capabilities
- Buy and sell bitcoin, invest spare change through round-ups, schedule recurring buys, send and receive bitcoin, Bitstack Card for earning bitcoin back, direct deposit for paycheck savings, secure cold storage solution, regulated service, customer support.
Pricing
- Standard Plan: Free
- Everyday benefits
- Cash account: Free (coming soon)
- SEPA (Pay In & Pay Out): Free (coming soon)
- SEPA Instant: Free (coming soon)
- Card Deposit: Apple Pay & Google Pay - 0.70%
- Customer support: French and English
- Fee-free currency exchange: €1,000/month (2% fee applies after limit)
- Crypto trading fees: 1.49% - 0.49%
- Crypto withdrawal fees: Free
- Crypto Trading Fees:
- < €250 → 1.49%
- €250 - €5,000 → 0.99%
- €5,000 - €10,000 → 0.89%
- €10,000 - €50,000 → 0.79%
- €50,000 - €250,000 → 0.69%
- €250,000 - €500,000 → 0.59%
-
€500,000 → 0.49%
- €0.29 minimum fee when buying by Card.
- Crypto Withdrawal Fees:
- 0% fee for bitcoin transfers to an external wallet.
- Priority: 10 minutes or less - Pro Rata + up to €3
- Rush: 2 hours or less - Pro Rata + up to €2
- Standard: usually 24 hours or less - Free
- Minimum withdrawal: 0.00100000 BTC or 100,000 sats.
How much Bitstack raised
1 - €1 million
May 11, 2022Lead Investor: Not specified in the source.
Who are the founders of Bitstack
AR
Alexandre Roubaud
Founder & CEO
KS
Kabir Sethi
Co-founder & CTO
Market Focus
Bitstack primarily focuses on the financial technology (fintech) industry, specifically in the area of cryptocurrency savings and investment, allowing users to save in Bitcoin through features like automatic rounding up of purchases and recurring buys.
Investors
- Stillmark
- Serena
- Plug and Play Tech Center
- Y Combinator
- AG2R LA MONDIALE
- Founders Future
- STATION F
Competitors Overview
Bitstack operates in the Bitcoin savings app market, where its main competitors include:
-
Relai:
- Features: Relai allows users to buy Bitcoin easily without the need for KYC (Know Your Customer) verification, which enhances privacy. It offers a self-custodial wallet, meaning users have full control over their funds. The app supports recurring purchases and has a user-friendly interface.
- Advantages: The key advantage of Relai is its focus on user privacy and control, as it does not hold user funds. This self-custody feature is appealing to users who prioritize security and autonomy over their assets.
-
Young Platform:
- Features: Young Platform provides a platform for buying, selling, and saving in cryptocurrencies, including Bitcoin. It offers features like a user-friendly interface, educational resources, and a rewards program for users.
- Advantages: Young Platform's educational resources and rewards program can attract new users who are looking to learn about cryptocurrency while earning benefits for their activities on the platform.
-
Swan Bitcoin:
- Features: Swan Bitcoin focuses on automated Bitcoin savings plans, allowing users to set up recurring purchases. It emphasizes dollar-cost averaging as a strategy for investing in Bitcoin.
- Advantages: Swan Bitcoin's automated savings feature is a significant advantage for users looking to invest in Bitcoin consistently without having to manage their purchases actively.
Overall, Bitstack differentiates itself with its automatic rounding up of purchases feature, which allows users to save Bitcoin effortlessly as they spend. This feature, combined with recurring buys, positions Bitstack uniquely in the market, appealing to users who want a seamless way to save Bitcoin without needing to think about it actively.
Business Model
Revenue from interchange fees, interest on loans, subscription fees, and trading fees.
Company Pricing
- Standard Plan: Free
- Everyday benefits
- Cash account: Free (coming soon)
- SEPA (Pay In & Pay Out): Free (coming soon)
- SEPA Instant: Free (coming soon)
- Card Deposit: Apple Pay & Google Pay - 0.70%
- Customer support: French and English
- Fee-free currency exchange: €1,000/m
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