Kenyan startup to expand remittance business

A Kenyan startup, BitPesa,  which is seeking to have an impact in the global remittance business, said it has raised $1.1 million in a second round of funding from Pantera Capital of San Francisco. The CEO and founder of Pantera, Dan Morehad  has joined BitPesa’s board. BitPesa has raised a total of $1.7 million.  The startup began last spring with the U.K.-Kenya business. Currently it has operations in Ghana and is planning further expansion to Tanzania and Uganda this year.

 

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