Castle, a bitcoin treasury platform for small and medium-sized businesses (SMBs), announced it has raised $1 million in an oversubscribed pre-seed round to expand bitcoin access for businesses, per a press release sent to Bitcoin Magazine. The round was led by Boost VC, with backing from Winklevoss Capital, Park Rangers Capital, Epoch VC, and other angel investors.
“Most savings products used by small and medium businesses, despite being framed as high-yield, actually lose money after accounting for inflation. Business owners are waking up to this and deserve better,” stated the CEO of Castle, Stephen Cole. “Bitcoin, with its strictly limited supply, has been the best performing asset of the past decade and we’re excited to bring it to companies across America.”
The funding will be used to accelerate Castle’s rollout of its automated bitcoin treasury solution, which integrates with tools like QuickBooks, PayPal, Square, and Stripe to help SMBs protect their wealth from inflation by automatically converting portions of revenue into bitcoin.
“By integrating with tools like QuickBooks, PayPal, Square, and Stripe, our platform gives businesses intelligent bitcoin exposure aligned with their operational requirements,” CTO João Almeida said. “Castle is built to be invisible so owners can focus on what they do best and know their bitcoin treasury will look the way they want.”
Castle also offers strategy options ranging from conservative to aggressive, allowing businesses to align their bitcoin allocations with their risk tolerance. Current customers include companies across sectors such as restaurants, fitness, accounting, e-commerce, SaaS, real estate, and fine art.
“We see bitcoin as the world’s most powerful savings technology, and Castle is making it easy and accessible for small and medium businesses,” stated the Managing Partner of Boost VC Brayton Williams. “The founders are veteran bitcoiners and tech leaders, combining a rare sense of mission and execution ability, and Boost VC is excited to support them.”
Castle’s platform includes automated recurring bitcoin allocations based on fixed amounts or revenue percentages, cash thresholds that trigger automatic purchases or sales to maintain liquidity, and settings to define minimum and maximum bitcoin exposure.
“Bitcoin is the ultimate store of value,” said the Founders of Winklevoss Capital Cameron and Tyler Winklevoss. “Unlike fiat, it protects the value of your life’s work. Castle lives up to its name by helping businesses safeguard their balance sheet by automatically converting a portion of every sale into bitcoin.”
