2015-02-09 CA - BitPesa Raises US$1.1m In Funding

[jdebunt]

http://www.cryptoarticles.com/crypto-news/bitpesa-raises-us11m-in-funding-and-welcomes-new-member-to-their-board-of-directors

Unbanked countries are an excellent breeding ground for Bitcoin adoption, and BitPesa is tapping into that market by taking on global remittance service in Kenya, Africa. In a second round of funding, led by Pantera Capital, the Nairobi-based startup raised a whopping US$1.1m, and also welcomed Pantera Capital’s CEO and founder Dan Morehead to the board of directors.

[LiteCoinGuy]

http://blogs.wsj.com/moneybeat/2015/02/09/bitbeat-kenyas-bitpesa-raises-1-1-million-expands-operations/

[CoinMode]

So that puts us at what, around $100million VC funding in the first 1/10th of the year?

[jdebunt]

http://blogs.wsj.com/moneybeat/2015/02/09/bitbeat-kenyas-bitpesa-raises-1-1-million-expands-operations/

Source is quoted at the bottom, but ty unlike most crypto news outlets, we do include sources in every article

[Kprawn]

It could make a huge difference, if the operators of BitPesa can keep the fees low. The only reason why Mpesa was successful, was because it was a cheap alternatives to banks.

Those people do not need a alternative to the current banking system, with the same fee structure. 3% might still be too much for poor people.

The maximum of £500 per transaction can also pose a problem, for people who sends money home from other countries, 

[champbronc2]

Can you sign up for BitPesa and USA?

Also is 3% the total fee or is there also exchange rate?

It's a great idea but I'm afraid it's not 100% practical yet.