Bitcoin-to-Cash App Abra Raises $12 Million Series A
Abra, the startup developing a bitcoin powered remittance app, has raised just over $12 million in new funding. The Series A round drew support from a large number of investors including Arbor Ventures, RRE Ventures and First Round Capital. Combined with previous capital raised during a seed round, the startup has netted more than $14m in investment to date. The company plans to use the new funding to further develop the functionality of its remittance app as well as support efforts to expand the reach of its service. In a statement, Jim Robinson, general partner at RRE Ventures and a....
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Bitcoin remittance app Abra recently confirmed raising $12 million in a new venture financing round. The Series A round drew support from noted investors like Arbor Ventures, RRE Ventures and First Round Capital. Other investors that took part in the funding are Blockchain Capital, Digital Currency Group, Liberty City Ventures, etc. The total valuation of Abra, upon receiving the new funds, has now reached $14 million. Announced in March this year, Abra is a brainchild of a seasoned technology entrepreneur Bill Barhydt. The former Netscape director said during the launch that he is looking....
Abra is just one of the many Bitcoin startups to rake in a lot of funding, but having very little to show for it. Various Bitcoin companies and startups have received significant amounts of funding over the past few years. This seems only normal, as the technology and protocol making up the Bitcoin network can be of great value to people and companies all over the world. Abra is one of the companies seeing a lot of funds flowing in, even though they still don’t have a working prototype of their smartphone app. For some reason, they made it to the Angellist top startup list. When the....
Abra on Wednesday announced that it will soon launch its blockchain-based remittance app in the US and Philippines markets. The app, which recently raised $14 million in Series A Funding, also discussed its plans to add more countries to its portfolio in coming months. If it is to happen as predicted, Abra will enable millions of people to transfer digital cash more swiftly and accurately than the traditional banking methods. The remittance company also unveiled the name of its two "secret" investors from the Series A round: renowned multinational finance company American Express and Ratan....
Abra, a non-custodial bitcoin wallet app that allows people to send money for free from their bank accounts, is now available in the U.S. and the Philippines, the Mountain View, Calif.-based company announced on its website. Abra is available on iPhone and Android in the U.S. The company’s goal is to be a global financial inclusion app for the expanding cross-border remittance market. A U.S. user can add cash to their Abra wallet from any major bank account, then send it for free to any phone number in the U.S. or the Philippines via the bitcoin blockchain. Recipients can withdraw the....
Bill Barhydt talks fast, often in big, sweeping terms that pass with the frequency of mile markers. "We are basically preparing Abra to go global as quickly as possible," he says in interview. On the phone with CoinDesk, Barhydt even sounds as if he’s flying through space and time, the wind rushing around him audibly as we kick off a conversation about Abra, the peer-to-peer "digital cash" startup for which he has served as CEO since 2014. While Barhydt exudes velocity, the language he employs seem a far cry from his startups muted public presence. While the company has....