Canadian Bitcoin platform Shakepay raises $35M in Series A funding

Shakepay, a Montreal-based Bitcoin (BTC), startup, has raised $35 million from investors. QED Investors, a US-based venture capital firm, has just given $251 million to the company.

Shakepay was founded in 2015 and allows Canadians to sell and buy BTC, as well as pay their friends. It supports Ether (ETH) purchase.

The funds will be used by the startup to consolidate growth and bring on new products such as the Shakepay Visa Prepaid Card. It also aims to expand the team.

Jean Amiouny, CEO of ShakePay, spoke to Cointelegraph.

Shakepay has seen a boom in demand for Bitcoin adoption and we are excited to raise our funds to be able offer more Bitcoin products to Canadians.

This funding will support a wide range of positive stats for 2021. The company reached more than 900,000. Customers last year, surpassing $6 billion in total revenue.

According to Shakepays blog, the company reached 1% (or 380,000) of Canadas population in March 2013 and 2% in November 2013. In 2021, the companys user base grew by 381%.

Canada is becoming more pro-Bitcoin. A survey conducted in Canada last year found that 62% of Canadians would like to be paid in crypto by 2027.

Shakepay is all about retail adoption. The group aims to make it easy for Canadians “to buy and earn the best money ever to exist: Bitcoin.”

Related: Canadian restaurant chain earns 300% on BTC investment for weather pandemic

Jean Amiouny illustrated Jean Amiounys vision for the company in the official announcement.

Shakepay has raised Series A funding and is pleased to welcome QED Investors. These QED Investors have extensive experience in the financial tech industry and will help Shakepay grow its vision to become a leader in financial apps that help Canadians build financial wealth by investing in bitcoin.