BitFinance becomes Savannah Fund’s first Bitcoin investment

Investing | May 20, 2015 By:

On Tuesday, May 19, Savannah Fund announced that it has invested in their first Bitcoin startup, BitFinance.

“BitFinance interests us because it seeks to solve real issues people are facing. For instance, in Zimbabwe consumers have to deal with up to 13 legal tenders, which bring[s] the challenge of changing from one to another. We are also happy with the team behind the startup. They are local individuals grounded in the technology,” said Savannah Fund managing partner Mbwana Alliy.

BitFinance will receive $20,000 to $30,000 in funding and begin a 3 month accelerator program where they will receive support and training.

Savannah Fund is a seed capital fund specializing in US$25,000-US$500,000 investments in early stage high growth technology (web and mobile) startups in sub-Saharan Africa.