New horizons are being charted in the fintech world as Paris-based Bitstack secures $15 million in funding to expand its Bitcoin savings app across Europe. For female entrepreneurs like me, this milestone reveals lessons worth dissecting. Bitstack’s approach to saving-by-rounding-up and their push into underexposed financial regions have placed them squarely at the center of Europe’s Bitcoin revolution. Here’s why it matters and how you, as a startup founder or freelancer, can leverage their story for your own growth.
The Backstory of Bitstack
Founded in 2021, Bitstack was ahead of its time in making cryptocurrency accessible to the masses. By letting users save Bitcoin automatically through micro-investments, this Paris-based app has attracted more than 150,000 users in two years. Think about this: everyday purchases are rounded to the next whole euro, with the difference being invested into Bitcoin. Beyond the tech-savvy, it’s ordinary people, baristas and shopkeepers, embracing this simple way to start saving.
This funding round, led by major players like Stillmark, Serena, and Plug and Play Ventures, is a vote of confidence in Bitstack’s blend of accessibility and compliance.
What Entrepreneurs Can Learn From Bitstack’s Success
Bitstack’s achievements are not just about crypto; they’re a masterclass in adaptation, foresight, and timing. Let’s explore key insights.
1. Simplify a Complex Ecosystem
Bitcoin can seem daunting. Bitstack’s genius lies in simplifying the experience, removing jargon and creating a platform devoid of intimidation. If you’re solving a problem for your customers, ask yourself: is my service hallmarked by simplicity?
2. Timing is Everything
While inflation eats away at bank savings, Bitcoin emerges as a digital hedge for many. Bitstack recognized this shift. Entrepreneurs should track larger economic waves and ensure they’re riding them at the right moment.
3. Regulations Are Not Your Enemy
The approval Bitstack got under MiCA regulation from the French Financial Markets Authority speaks volumes about planning ahead. Learn more from the AMF’s framework for crypto. For European founders, this move signals that compliance isn’t a burden but a growth strategy.
Action Plan: Building Momentum for Your Startup
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Craft a One-Feature MVP
Bitstack started with one key feature, rounding up transactions to save for Bitcoin. Start by doing one thing exceptionally well rather than juggling multiple features. -
Go Local Before Going Global
Before raising $15 million, Bitstack focused on France, tailoring their services to local needs. Are you addressing the specific pain points of your market? -
Diversify Investors
Bitstack cultivated a panel of investors balancing tech, insurance, and crypto expertise. This funding diversity produces not just money but access to different industries. Diversity pays off, whether it's partners, investors, or your founding team. -
Add Long-Term Value
The promise of Bitstack wasn’t to get rich overnight but to foster savings habits with long-term impact. If you’re a founder, ask: how can my product deliver steady, trust-based value?
Common Pitfalls for Female Founders
Women in startup ecosystems, myself included, know the uphill climb in securing investment. The lessons from Bitstack can be flipped to show what to avoid:
- Ignoring the Data: Many female entrepreneurs are great at pitching passion but miss statistical depth. Sharing savings stats helped Bitstack win over skeptics.
- Scaling Too Early: Bitstack waited two years of proving its traction in France before announcing its European expansion. Many founders jump too quickly, burning resources.
- Misguided Equity Partnerships: Smart investors not only provide cash, they amplify opportunities. Investors in Bitstack offered an entry into emerging crypto markets.
How to Set Yourself Apart
No matter your industry, build a foundation rooted in trust and regulatory clarity. Bitstack transformed Bitcoin from a speculative asset into a functional savings account, which softened resistance from skeptics. How can you reframe the biggest objection to your product?
For example, in my startup journey with Fe/male Switch, simplifying game-based startup education for female entrepreneurs has meant reframing stereotypes about “gamers” not being serious about business. As Bitstack did for Bitcoin, you can demystify your offering.
Wrapping Up With a Reality Check
Raising millions won’t solve all problems, but Bitstack’s recent success proves there’s appetite for straightforward solutions to real problems. From this moment forward, ask yourself the tough questions:
- Am I managing user expectations?
- Are my compliance practices solid?
- More importantly, am I creating solutions or adding noise?
Bitstack’s rise is a victory for user-centric design over industry complexity. Learn from their simplicity, adapt it for your niche, and, like them, stay relentlessly committed to your broader vision.
Europe is watching, and there’s room at the table for solutions that address overlooked gaps. Will yours be the next story of inspiration? Let’s find out.
FAQ
1. What is Bitstack?
Bitstack is a Paris-based fintech startup that offers a Bitcoin savings app. It allows users to round up their everyday purchases to the nearest euro and invest the spare change in Bitcoin. Learn more about Bitstack
2. How much funding did Bitstack raise?
Bitstack raised $15 million in a Series A funding round to expand its Bitcoin savings app across Europe. Read more about Bitstack’s funding
3. What are Bitstack's key features?
Bitstack’s app includes round-up savings, recurring auto-investments, and soon-to-be-launched VISA debit card rewards, which allow up to 1% Bitcoin cash-back on purchases. Explore Bitstack’s features
4. Who led Bitstack's $15 million funding round?
The funding round was led by 13books Capital, with participation from notable investors like Serena, Plug and Play Ventures, Stillmark, and more. See more details about the funding
5. What regulatory approval does Bitstack have?
Bitstack is licensed under the MiCA regulation by the French Financial Markets Authority (AMF), ensuring compliance in the crypto sector. Learn more about crypto regulations under MiCA
6. Why is Bitstack relevant in the fintech sector?
Amid rising inflation in Europe, Bitstack has made Bitcoin savings accessible to ordinary users, positioning itself as a hedge against eroding purchasing power. Discover Bitstack’s market impact
7. How many users does Bitstack currently have?
Bitstack has more than 150,000 users, predominantly in France, and aims to reach 1 million users across Europe within 18 months.
8. What is the round-up feature in Bitstack’s app?
The round-up feature automatically saves the difference by rounding up everyday purchases to the next euro and investing the spare change in Bitcoin. Explore how Bitstack works
9. What lessons can entrepreneurs learn from Bitstack?
Bitstack’s success highlights the significance of simplifying complex products, focusing on regulation for growth, and using timing to leverage market trends. Learn from Bitstack’s strategies
10. What’s next for Bitstack?
Bitstack plans to expand its services across Europe, introduce new features, such as a VISA debit card, and target a broader audience through local language support. Read Bitstack’s expansion plans
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.
