Plug and Play is eager to announce a new investment in Bitstack, alongside Founders Future and prominent angel investors. Bitstack is a mobile application for saving in bitcoin. The app has three leading features:

• Connecting by bank accounts, allowing the app to round up users’ expenses to the nearest Euro and invest the spare change.
• Users can “set and forget” recurring investments in bitcoin, therefore employing dollar-cost averaging to overcome price fluctuations and timing the market.
• Instant one-time buys of Bitcoin by card are available as well, starting from €1.

Making saving in bitcoin simple and accessible

There are three macro trends that have created a market opportunity for Bitstack:

• Demand for bitcoin and crypto-assets is growing rapidly in France and Central, Northern, and Western Europe commonly referred to as CNWE.
  • As of September 2021, CNWE has the biggest cryptocurrency economy globally: more than $1trn worth of cryptocurrency received and 25% of all global crypto activity.
• Second, the COVID-19 pandemic has caused an increase in savings per household around the globe.
  • In France particularly, there is a large gap between those who plan to buy/save via bitcoin (43%) and those who already have (11%).
• Fintech trends are making investing more popular with the younger demographic, meaning an increasingly large number of investors looking to enter risky markets with limited knowledge.

Bitstack has received the DASP license — which allows them to be a Digital Asset Service Provider — from the French government, which has among the most rigorous standards across Europe. This gives them not only a first movers advantage within the French market but also a favorable indicator of the regulatory feasibility of expanding throughout Europe.

The team behind Bitstack

Alexandre Roubaud is the co-founder and CEO of Bitstack. He previously led Product at Moka, Canada's fastest-growing saving and investing app (acquired by Mogo). Originally from France, Alexandre graduated from McGill University where he received a Bachelor of Commerce.

Kabir Sethi, co-founder and CTO, also has over two years of experience in fintech and has been passionate about cryptocurrency since 2009. Prior to Bitstack, Kabir was involved in Open-Source development in cryptography while utilizing his digital project implementation skills at a technology consulting company.

Both Kabir and Alexandre had worked together on bitcoin and other crypto projects previously during their shared time at McGill University in Montreal, Quebec.

When we first met Bitstack, we immediately knew that the solution was a game-changer for many. The team behind this company has proven that they can scale at incredible speed, and the team and advisors combine deep industry knowledge with management experience.