# Bitwave

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/bitwave

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.bitwave.io
- Total disclosed funding: $22M
- Latest round: Series A (Dec 6, 2022)
- Investors on record: 12

## About

Bitwave is a US-based comprehensive digital asset finance platform that automates tax, accounting, and payment workflows for enterprises operating in the cryptocurrency sector.Founded in 2018 and headquartered in San Francisco, US, BitAlpha, Inc. specializes in providing solutions for managing digital assets. The company has successfully closed 2 deals with its most recent funding round taking place on December 6, 2022. Bitwave raised USD 15.00 mn in Series A funding, supported by investors such as Blockchain Capital, Alumni Ventures Group, and Hack VC. The CEO, Patrick White, leads a firm established to streamline financial operations related to cryptocurrencies.Bitwave offers a digital asset finance platform designed to streamline tax, accounting, and payment workflows for enterprises engaging in cryptocurrency transactions. Key services include stablecoin B2B payment solutions, on-chain accounting, and audit-ready financial reporting. The platform facilitates near-instant payment settlements, manages blockchain transactions within existing ERP systems, and generates compliance-ready financial reports adhering to GAAP and IFRS standards. Bitwave serves a diverse clientele across sectors such as energy and technology, with a strong presence in North America, Europe, and Asia.Bitwave operates on a subscription-based revenue model, charging businesses for access to its suite of tools for managing digital assets. Revenue is generated primarily through B2B payments utilizing stablecoins, processed via Bitwave's integrated payment stack. The pricing structure is tiered based on service levels and features, allowing customization for client needs. Key offerings, such as on-chain accounting and automated reconciliation, are central to the company's value proposition, ensuring clients can confidently manage their cryptocurrency finances.Following the Series A funding of USD 15.00 mn raised on December 6, 2022, Bitwave plans to leverage this capital to enhance its platform for custodians, exchanges, financial institutions, and wealth managers dealing with the complexities of digital asset investments. The company aims to expand its offerings with new products designed for the evolving needs of its clients while also targeting growth in additional markets beyond its current footprint in North America, Europe, and Asia.

## Funding rounds

- Series A, Dec 6, 2022, $15M — Valor Equity Partners, Blockchain Capital, Alumni Ventures Group, SignalFire, Hack VC, Hutt Capital, Arca Investment Management, Pulsar Trading
- Seed, Aug 12, 2021, $7.3M — Blockchain Capital, Nima Capital, Humla Ventures, Arca, Nascent

## Investors

- Blockchain Capital (https://capitalatlas.ai/funds/blockchain-capital) — Seed, Series A
- Nima Capital — Seed
- Humla Ventures (https://capitalatlas.ai/funds/humla-ventures) — Seed
- Arca — Seed
- Nascent (https://capitalatlas.ai/funds/nascent) — Seed
- Valor Equity Partners (https://capitalatlas.ai/funds/valor-equity-partners) — Series A
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Series A
- SignalFire (https://capitalatlas.ai/funds/signalfire) — Series A
- Hack VC (https://capitalatlas.ai/funds/hack-vc) — Series A
- Hutt Capital (https://capitalatlas.ai/funds/hutt-capital) — Series A
- Arca Investment Management — Series A
- Pulsar Trading — Series A