Share this article
Bitcoin-to-Cash App Abra Raises $12 Million Series A
Abra, the startup developing a bitcoin powered remittance app, has raised just over $12 million in new funding.
By Stan Higgins
Updated Sep 11, 2021, 11:51 a.m. Published Sep 10, 2015, 1:00 p.m.
Abra, the startup developing a bitcoin powered remittance app, has raised just over $12 million in new funding.
The Series A round drew support from a large number of investors including Arbor Ventures, RRE Ventures and First Round Capital.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Combined with previous capital raised during a seed round, the startup has netted more than $14m in investment to date.
The company plans to use the new funding to further develop the functionality of its remittance app as well as support efforts to expand the reach of its service.
In a statement, Jim Robinson, general partner at RRE Ventures and a co-founder of Abra, said the company is "fully leveraging the potential of the technology by reducing friction in financial services".
He added:
"It's not about bitcoin for the sake of bitcoin – it's about how the technology can solve problems for consumers worldwide, even if they don't know what the blockchain is."
The startup came out of stealth mode earlier this year at the end of Launch Festival 2015. Abra uses bitcoin as backend infrastructure but denominates funds that pass through its system in US dollars.
Image via Abra
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Rebounds to $93K From Post-Fed Lows, but Altcoins Remain Under Pressure
Downward pressure on bitcoin is losing steam, with the market stabilizing but not yet out of the woods, said one analyst.
What to know:
- Bitcoin rebounded from a sharp early selloff on Thursday to trade above $93,000 shortly after the close of U.S. stocks.
- The late-day gain in bitcoin came alongside a rebound in the Nasdaq from big morning losses; the tech index closed with just a 0.25% loss.
- Downward pressure on bitcoin is losing steam, said one analyst, but the market is not yet out of the woods.
Top Stories
