Citrea Raises $14M in Series A Funding

Citrea, a George Town, Cayman Islands-based company providing a solution to build on Bitcoin, raised $14M in Series A funding.

The round was led by Peter Thiel’s Founders Fund, with participation from Erik Voorhees, Balaji Srinivasan, Jameson Lopp, Maven11, and other angel and venture investors.

The company intends to use the funds to expand operations and its development efforts.

Led by CEO Citrea is a Bitcoin scalability solution which aims to expand Bitcoin’s utility without compromising its decentralization or security. Citrea enhances the capabilities of Bitcoin blockspace with zero-knowledge technology and enables the Bitcoin network to support diverse on-chain applications and platforms. By eliminating the need for intermediaries, it allows users to trustlessly buy, leverage, lend, borrow, and use BTC—transforming Bitcoin from a passive store of value into an active financial tool.

The company has also launched its exclusive developer program, ‘Citrea Origins ‘, bringing together a select group of developers to build applications on Citrea—a platform for expanding Bitcoin’s utility.

FinSMEs

31/10/2024