B
Bitfxt
Fintech · Lagos, Nigeria · Founded 2016
Cryptocurrency exchange MoreLess
Bitfxt is a Nigerian financial technology company positioned within the digital currency sector, founded by Franklin Peters. The company's genesis stems from Peters' personal experience with the nascent cryptocurrency market in 2015; after being scammed while trying to purchase Bitcoin, he identified a critical need for a secure and trustworthy trading platform. This led to the establishment of Bitfxt in 2016, initially outsourcing development to overcome the local scarcity of blockchain expertise.
The core of Bitfxt's business is its cryptocurrency exchange, which facilitates the buying, selling, and trading of digital currencies in real-time. The platform was designed to be intuitive for both experienced and novice traders. Beyond the exchange, Bitfxt has expanded its product ecosystem to drive cryptocurrency adoption in Africa. A key offering is BoundlessPay, a global multi-utility payment system and neo-finance platform that enables cross-border settlements using both fiat and cryptocurrency. Associated with this is a cryptocurrency-powered ATM card, allowing users to spend their digital assets at any ATM or POS device. The company also established Bitfxt Academy, an educational arm offering courses on blockchain technology, and Bitfxt Lab, its software development division.
A notable event in the company's history was a $15 million Series A funding agreement announced in February 2020 with a UK-based syndicate, Payitup Clearinghouse. This deal included a US$125 million revolving margin facility for its traders. However, by January 2021, CEO Franklin Peters revealed that Bitfxt had withdrawn from the agreement. The decision was made after realizing the terms were unfavorable and would have diverted the company's focus from its core crypto business. The company's revenue is generated from transactions on its exchange and other financial services. Its target clients range from individual retail investors to businesses seeking to integrate blockchain solutions.
Keywords: cryptocurrency exchange, digital currency, blockchain technology, fintech, Franklin Peters, BoundlessPay, crypto ATM card, cross-border payments, digital wallet, crypto trading, financial technology, Nigerian startup, African tech, blockchain education, decentralized finance, B2B crypto, retail crypto investors, secure trading platform, utility payment system, crypto adoption
Company overview
Bitfxt company information
The essential company record, classifications and operating signals in one place.
- Status
- Operational
- Founded
- 2016
- Headquarters
- Lagos, Nigeria
- Employees
- —
- Open positions
- None listed
- Dealroom signal
- 16.0
Valuation & funding
Bitfxt funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| SERIES A✓Equity / VC | Feb 2020 | $15M | $60M | Payitup Clearinghouse | ↗ |
Growth signals
Bitfxt website traffic
Latest recorded traffic for Bitfxt is 7.5K monthly website visits, up 5669.2% over the last three months.
Talent graph
Bitfxt's talent
Source: Dealroom Talent Intelligence.
Investors
1 investor on Bitfxt's cap table
Sourced from Dealroom's funding and investor records.
Global footprint
Where Bitfxt has talent and traffic
In the news
Latest news about Bitfxt
Recent press, funding announcements, and product moves mentioning Bitfxt — open to read from the original sources.
Market sentiment
What the market is saying about Bitfxt
An AI-synthesized read of the highest-engagement posts about Bitfxt on X over the past 7 days. We rank by likes & retweets, ignore corporate channels, and surface the themes that broke out from real people.
Reading the room on X — pulling top posts and synthesizing themes…
Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
See Bitfxt’s full profile on Dealroom
Request a free trial to see the complete deal history, financials, people graph and growth signals.
Takes under a minute. Already use Dealroom? Log in.