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Bitmama - About the company
Bitmama is a seed company based in Lagos (Nigeria), founded in 2017 by Ruth Iselema and Ruth Iselema. It operates as an App-based exchange platform for cryptocurrencies. Bitmama has raised $2M in funding from investors like Mercy Corps, Unicorn Growth Capital and Launch Africa. The company has 2397 active competitors, including 198 funded and 78 that have exited. Its top competitors include companies like CoinDCX, Binance and Blockchain.
Company Details
Bitmama is an app-based exchange platform for cryptocurrencies. It allows users to buy & sell cryptocurrencies through an encrypted network. It also offers P2P money transfer solutions. The app is available for Android and iOS platforms.
- Website
- bitmama.io
- Social
Key Metrics
Founded Year
2017
Location
Lagos, Nigeria
Stage
Seed
Total Funding
$2M in 3 rounds
Latest Funding Round
Investors
Ranked
105th among 2397 active competitors
Employee Count
11 as on Aug 31, 2026
Investment & Acquisitions
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Bitmama's funding and investors
Bitmama has raised a total funding of $2M over 3 rounds. Its first funding round was on Oct 05, 2021. Its latest funding round was a Seed round on Jul 2023 for $*****. 1 investor participated in its latest round. Bitmama has 16 institutional investors and 3 angel investors.
Here is the list of recent funding rounds of Bitmama:
Date of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Jul 2023 | 3668952 | Seed | 8894299 | 9527254 | 2192151 | 9762017 |
Sep 09, 2022 | 6113723 | Seed | 5014767 | 2406810 | 9433295 | |
Oct 05, 2021 | 6552093 | Seed | 9177162 | 2120313 |
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Bitmama's founders and board of directors
Founder? Claim ProfileThe founders of Bitmama are Ruth Iselema and Ruth Iselema.
Here are the details of Bitmama's key team members:
- Ruth Iselema: Founder of Bitmama and founder of 1 other company.
- Ruth Iselema: Co-Founder & CEO of Bitmama and founder of 1 other company.
View details of Bitmama's Founder profiles and Board Members
Bitmama's employee count trend
Bitmama has 11 employees as of Aug 26. Here is Bitmama's employee count trend over the years:
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Bitmama's Competitors and alternates
Top competitors of Bitmama include CoinDCX, Binance and Blockchain. Here is the list of Top 10 competitors of Bitmama, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Provider of cryptocurrency exchange services | $247M | 83/100 | ||
2nd | Binance 2017, Abu Dhabi (United Arab Emirates), Series C | Online exchange platform for cryptocurrency | $2.02B | 83/100 | |
3rd | Blockchain 2011, London (United Kingdom), Series E | Provider of digital asset infrastructure and financial services for users | $700M | 82/100 | |
4th | Uphold 2013, San Francisco (United States), Series B | Digital assets trading platform offering trading services for cryptocurrencies, stablecoins, and precious metals | $73.2M | 82/100 | |
5th | Kraken 2011, Cheyenne (United States), Series D | Provider of a multi-asset trading platform | $866M | 82/100 | |
6th |  Gemini 2014, New York City (United States), Public | Platform offering crypto exchange solutions | $424M | 79/100 | |
7th |  Uniswap 2018, New York City (United States), Series B | Provider of a decentralized exchange platform for cryptocurrency | $176M | 79/100 | |
8th | Online platform for trading in cryptocurrency | $1.73B | 78/100 | ||
9th | PDAX 2017, Makati (Philippines), Series B | Online exchange platform for cryptocurrencies | $62.5M | 78/100 | |
10th |  CoinSwitch 2017, Chennai (India), Series C | Broker-based online crypto trading and exchange platform | $302M | 76/100 | |
105th | App-based exchange platform for cryptocurrencies | $2M | 48/100 |
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Bitmama's Investments and acquisitions
Bitmama has acquired Payday. Bitmama has not made any investments as of now.Reports related to Bitmama
Here is the latest report on Bitmama's sector:
News related to Bitmama
•
Bitmama pauses virtual MasterCard services following issues with the card providerTechpoint.Africa•Nov 29, 2024•Bitmama, Mastercard
•
Mansa Partners With Nigerian Blockchain Platform Bitmama to Boost Cross-Border PaymentsShareandstocks•Sep 09, 2024•Bitmama, Mansa
•
MANSA partners with Bitmama to improve cross-border payments in AfricaThe Paypers•Sep 03, 2024•Mansa, Bitmama
•
Nigerian Crypto Firm Bitmama to Pay $1 Million for Startup That Raised $3 Million in FebruaryCryptonews•Dec 08, 2023•Bitmama, Payday
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Nigerian blockchain payments startup Bitmama closes $2m pre -seed round to scale growthAfrica Business Communities•Sep 19, 2022•Bitmama, Unicorn Growth Capital, Launch Africa
•
Nigerian Blockchain Startup Bitmama Closes $2 Million Pre-Seed RoundShareandstocks•Sep 11, 2022•Bitmama, Unicorn Growth Capital, Launch Africa, Adaverse and 12 others
•
Nigerian fintech startup Bitmama closes $350k pre-seed funding roundDisrupt Africa•Oct 05, 2021•Bitmama, Flori Ventures, Emergence Capital, Fedha Capital and 1 other
•
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