CastleThe company, which offers a Bitcoin treasury for SMBs (small and medium businesses), has announced that it raised $1,000,000 in a pre-seed funding round. bitcoin According to a Bitcoin Magazine press release, businesses can now gain access. The round, led by Boost VC with support from Winklevoss Capital and Park Rangers Capital as well as other angel investors, was backed by Epoch VC and Winklevoss Capital.
“Most savings products used by small and medium businesses, despite being framed as high-yield, actually lose money after accounting for inflation. Business owners are waking up to this and deserve better,” Stephen Cole, the CEO at Castle. “Bitcoin, with its strictly limited supply, has been the best performing asset of the past decade and we’re excited to bring it to companies across America.”
The funds will be used by Castle to speed up the rollout its automated Bitcoin Treasury solution. This integrates with QuickBooks, PayPal Square, Stripe and other tools to help SMBs safeguard their wealth from inflation, automatically converting revenue portions into bitcoin.
“By integrating with tools like QuickBooks, PayPal, Square, and Stripe, our platform gives businesses intelligent bitcoin exposure aligned with their operational requirements,” CTO João Almeida said. Castle is designed to be completely invisible, so that owners can concentrate on their core business and focus on knowing what they know. bitcoin treasury “They will appear the way that they wish.”
Castle offers a range of strategy options, from conservative to aggressive. This allows businesses to match their bitcoin allocations to their level of risk tolerance. Customers include businesses in sectors like restaurants, fitness centers, accounting firms, SaaS companies, real estate and fine arts.
“We see bitcoin as the world’s most powerful savings technology, and Castle is making it easy and accessible for small and medium businesses,” Brayton Williams, Managing partner of Boost VC. “The founders are veteran bitcoiners and tech leaders, combining a rare sense of mission and execution ability, and Boost VC is excited to support them.”
Castle’s platform allows for automated bitcoin allocations using fixed amounts, revenue percentages or cash thresholds. It also includes settings that define the minimum and maximum exposure to bitcoin.
“Bitcoin is the ultimate store of value,” The Founders and Tyler Winklevoss, Cameron Winklevoss. “Unlike fiat, it protects the value of your life’s work. Castle lives up to its name by helping businesses safeguard their balance sheet by automatically converting a portion of every sale into bitcoin.”
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Source: bitcoinmagazine.com
