BTCjam was founded in late 2012 in order to help people have access to affordable credit. In developing countries like Brazil, interest rates for personal loans can reach over 200% per year, making credit difficult if not impossible to be obtained.
In October 2013, BTCjam was accepted into the 500 Startups accelerator program and secured seed financing from Ribbit Capital, 500 Startups, FundersClub and Bitcoin Investment Trust.
BTCjam moved from Mountain View to San Francisco in February 2014 and began expanding the company. By the end of 2014, BTCjam had facilitated bitcoin loans in excess of $10 million dollars in value with more than 100,000 users in over 200 countries.
BTCjam secured their Series A fundraising round in January 2015, led by Foundation Capital (investors in Netflix and Lending Club), Ribbit Capital, 500 Startups, FundersClub, Bitcoin Investment Trust and Pantera Capital.
Our Solution
Most developing countries do not have a national credit scoring system and their citizens are unfortunately subject to aggressive predatory lending practices. We’ve created a unique online credit scoring system to qualify borrowers from all over the world and allow them to build a transparent credit profile on the platform.
Our disruptive credit model is providing a new path to financial freedom for users from over 200 countries around the world.