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Bitcoin Magazine
Castle Raises $1M to Bring Automated Bitcoin Treasury to Small & Medium-Sized Businesses
Castle, a bitcoin treasury platform for small and medium-sized companies (SMBs), introduced it has raised $1 million in an oversubscribed pre-seed spherical to develop bitcoin entry for companies, per a press launch despatched to Bitcoin Magazine. The spherical was led by Boost VC, with backing from Winklevoss Capital, Park Rangers Capital, Epoch VC, and other angel traders.
“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,” said the CEO of Castle, Stephen Cole. “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 funding will be used to speed up Castle’s rollout of its automated bitcoin treasury answer, which integrates with instruments like QuickBooks, PayPal, Square, and Stripe to assist SMBs shield their wealth from inflation by routinely changing parts of income 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 mentioned. “Castle is built to be invisible so owners can focus on what they do best and know their bitcoin treasury will look the way they want.”
Castle also presents technique choices ranging from conservative to aggressive, permitting companies to align their bitcoin allocations with their danger tolerance. Current clients embody corporations across sectors such as eating places, health, accounting, e-commerce, SaaS, actual property, and advantageous artwork.
“We see bitcoin as the world’s most highly effective financial savings know-how, and Castle is making it straightforward and accessible for small and medium companies,” said the Managing Partner of Boost VC Brayton Williams. “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 contains automated recurring bitcoin allocations primarily based on fastened quantities or income percentages, money thresholds that set off automated purchases or gross sales to preserve liquidity, and settings to outline minimal and most bitcoin publicity.
“Bitcoin is the ultimate store of value,” mentioned the Founders of Winklevoss Capital Cameron and Tyler 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.”
This submit Castle Raises $1M to Bring Automated Bitcoin Treasury to Small & Medium-Sized Businesses first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.
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