- Companies
- Portal to Bitcoin
Portal to Bitcoin Funding, Investors & Competitors
Portal to Bitcoin has raised $118M across 4 funding rounds, most recently a $25M undisclosed-stage round in December 2025.
Last Portal to Bitcoin funding round
$25M
Undisclosed stage · Dec 2025
Cumulative funding Portal to Bitcoin raised
$118M
across 4 funding rounds
Key investors in Portal to Bitcoin
Coinbase Ventures
OKX Ventures
Arrington XRP Capital
IBM
Gate
Kyros Ventures
Bigcoin Capital
Avisa Ventures
About Portal to Bitcoin
Portal to Bitcoin is a San Francisco-headquartered platform for non-custodial crypto trading within self-managed wallets, supporting Bitcoin swaps with fiat ramps. Launched in 2018, it processes trades via atomic swaps without exchange risks, serving users in 50 countries. The service integrates Lightning Network for instant settlements and complies with KYC standards.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Commission
Portal to Bitcoin Funding History
Portal to Bitcoin has raised a total of $118M across 4 funding rounds.
Portal to Bitcoin's first fundraising round was a $9M seed round in June 2021. The most recent completed round was a $25M undisclosed-stage round in December 2025.
Portal to Bitcoin funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Dec 2025 | Undisclosed stage | JTSA Global (lead); OKX Ventures; Coinbase Ventures; Arrington XRP Capital | $25M | Portal to Bitcoin is a Bitcoin-native interoperability protocol that enables trustless cross-chain settlements using Hash Time Locked Contracts (HTLCs) and Bitcoin Taproot contracts. The company completed a $25 million funding round on December 4, 2025, led by JTSA Global, with participation from Coinbase Ventures, OKX Ventures, and Arrington Capital. Alongside the funding announcement, Portal to Bitcoin launched its Atomic OTC trading platform, designed for instant, non-custodial cross-chain OTC trades targeting institutions and large investors. Competitive context positions Portal to Bitcoin in Bitcoin DeFi interoperability, competing with bridges and cross-chain solutions amid rising institutional Bitcoin interest. |
| Aug 2025 | Series A | Paloma Investments (lead); Kyros Ventures; Bigcoin Capital | $50M | Portal to Bitcoin is a Bitcoin-first protocol and startup developing the BitScaler adapter, which enables scaling of native Bitcoin without wrapped tokens, custodial bridging, or insecure messaging alternatives. The company positions itself as a Bitcoin Priority Protocol focused on cross-chain trading for DeFi, headquartered in San Francisco and founded in 2022 with over 70 employees. On August 28, 2025, it completed a $50 million funding round led by Paloma Investments, with participation from investors including Bigcoin Capital and Kyros Ventures, bringing total funding to $92 million. The funds are allocated to expand the BitScaler adapter, grow the grant program, onboard institutional and community liquidity providers, and pilot integrations with wallets and custodial platforms for non-custodial token swaps. This round supports acceleration of product development, team expansion, and global operations scaling. The funding fits into a broader crypto ecosystem trend, with 20 projects raising $278 million that week including Rain's $58M Series B. |
| Jan 2024 | Seed | Gate; OKX Ventures; Avisa Ventures; Coinbase Ventures; Arrington XRP Capital; IBM | $34M | Portal to Bitcoin, operating as Portal, is a San Francisco-based fintech company founded in 2019 that develops a decentralized Bitcoin-based cross-chain exchange (DEX) and non-custodial wallet enabling peer-to-peer atomic swaps across blockchains without intermediaries like wrappers, bridges, or centralized exchanges, addressing custodial risks highlighted in incidents like Mt. Gox and FTX. The platform emphasizes user custody, privacy, and security through trust-minimized infrastructure, functioning as a staking, swapping, interoperability, and execution layer for Bitcoin and other cryptocurrencies. On January 30, 2024, Portal raised $34 million in an oversubscribed seed funding round using convertible notes and SAFE agreements, led by investors including Coinbase Ventures, Arrington Capital (noted as Arrington XRP Capital in some contexts), OKX Ventures, and Gate.io, with additional high-profile fintech and crypto backers; this followed an $8.5 million angel round in 2021, bringing total funding to $42.5 million. The CEO explicitly declined to disclose the company valuation. Funds are allocated to launch products on mainnet (targeted for March 2024 from testnet phase), expand the ecosystem, develop an AI-powered investment co-pilot app for trading strategies, and provide APIs for wallet integrations previously limited to institutions. At the time of the round, Portal's DEX and wallet remained in testnet, with no mainnet products live, underscoring its early-stage status in the competitive Bitcoin DeFi space alongside rivals like Thorchain, Stargate, and Wormhole. The project plans a potential native ERC-20 token (proposed ticker xport) for network security and validator rewards, decided by validators. Investors expressed confidence in Portal's innovation for fast, low-cost Bitcoin ecosystem activity, positioning it to enhance accessibility and security in DeFi on Bitcoin. |
| Jun 2021 | Seed | Coinbase Ventures (lead) | $9M | Portal to Bitcoin raised $8.5 million in an angel round that closed in 2021, with participation from Coinbase Ventures, ArringtonXRP Capital, OKEx, Republic.co, Shima Ventures, LD Capital, Monday Capital, GenBlock, Taureon, Autonomy Capital, Krypital, B21 Capital, and executives from Ethereum, DFINITY, MobileCoin, Tether, Galaxy Digital, Bitcoin.com, and others. The funding supported development of a decentralized Bitcoin-based exchange enabling peer-to-peer cross-chain swaps without intermediaries like wrappers, bridges, or centralized exchanges. Portal offers speed and liquidity of centralized platforms with Bitcoin's trust minimization, including spot markets, options, peer-to-peer lending, and borrowing via on-chain contracts without third-party custody. Founded in 2019 and based in the San Francisco Bay Area, Portal builds a decentralized bitcoin ecosystem as a staking, swapping, interoperability, and execution layer for swapping Bitcoin across blockchains while maintaining custody, privacy, and security. The project leverages atomic swaps to address cross-chain bridging challenges, providing an alternative for active on-chain users. This angel round preceded a public token sale on Republic.co in October 2021 and a larger $34 million seed round in 2024 from Coinbase Ventures, Arrington Capital, OKX Ventures, Gate.io, and others. |
Who has invested in Portal to Bitcoin?
10 investors have backed Portal to Bitcoin across its funding rounds, including Coinbase Ventures, OKX Ventures, Arrington XRP Capital, IBM, Gate and Kyros Ventures.
Lead investors include JTSA Global, Paloma Investments and Coinbase Ventures.
Portal to Bitcoin Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Jun 2021 | ||
| 2 | Participant | Jan 2024 | ||
| 2 | Participant | Jan 2024 | ||
| 1 | Participant | Jan 2024 | ||
| 1 | Participant | Aug 2025 | ||
| 1 | Participant | Aug 2025 | ||
| 1 | Participant | Jan 2024 | ||
| 1 | Lead | Dec 2025 | ||
This data is available for Pro users. Sign up to see all 10 Portal to Bitcoin investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Portal to Bitcoin
Portal to Bitcoin has acquired 1 company to date.
Last acquisition by Portal to Bitcoin was on January 13th 2019. Portal to Bitcoin acquired Cryptonaut for undisclosed valuation.
Latest Acquisitions by Portal to Bitcoin
| Description | Cryptonaut is a mobile application designed for overseeing and managing cryptocurrency holdings and portfolios. |
| HQ Country | |
| HQ City | Singapore |
| Deal Date | 13 Jan 2019 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Portal to Bitcoin acquisitions and their M&A valuation multiples. Start Free Trial | |
Portal to Bitcoin Competitors
Portal to Bitcoin competitors include listed companies like Block, Coinbase and Circle, and private ones like Ripple, OKX and Kraken.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $1.2B | - | $50B | - | ||
| Publicly listed | $24B | $2.2B | $46B | 1.6x | ||
| Publicly listed | $7.2B | $1.8B | $46B | 7.6x | ||
| Private | $1.9B | - | $25B | 13.2x | ||
| Publicly listed | $2.7B | ($73M) | $22B | 6.8x | ||
| Private | $2.2B | $531M | $21B | 9.5x |
Portal to Bitcoin Public Comps
Portal to Bitcoin is still privately-owned, but its public comps include Strategy, Block, Coinbase, Circle, BitMine, Bullish, Galaxy Digital, Hyperliquid Strategies, Sharplink and Securitize.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $477M | ($5.4B) | 149.4x | 144.4x | (13.1x) | (12.3x) | |||
| $24B | $2.2B | 1.7x | 1.6x | 18.6x | 9.4x | |||
| $7.2B | $1.8B | 6.1x | 7.6x | 24.2x | 27.2x | |||
| $2.7B | ($73M) | 7.2x | 6.8x | (273.4x) | 29.6x | |||
| $6M | ($364M) | 2308.9x | 97.4x | (38.6x) | - | |||
| $245B | ($727M) | 0.0x | 13.5x | (6.3x) | 38.2x | |||
| $60B | ($177M) | 0.1x | 0.2x | (43.3x) | (182.6x) | |||
| $9M | - | 308.0x | 162.2x | - | - | |||
This data is available for Pro users. Sign up to see all Portal to Bitcoin competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Portal to Bitcoin
| When was Portal to Bitcoin founded? | Portal to Bitcoin was founded in 2018. |
| Where is Portal to Bitcoin headquartered? | Portal to Bitcoin is headquartered in San Francisco, CA, United States. |
| Is Portal to Bitcoin publicly listed? | No, Portal to Bitcoin is a private, VC-backed company. |
| How much funding has Portal to Bitcoin raised? | Portal to Bitcoin has raised $118M across 4 funding rounds. |
| What was Portal to Bitcoin's last funding round? | Portal to Bitcoin's last funding round was a $25M undisclosed-stage round in December 2025, led by JTSA Global. |
| Who are Portal to Bitcoin's investors? | Portal to Bitcoin's investors include Coinbase Ventures, OKX Ventures, Arrington XRP Capital, Gate, Kyros Ventures, Bigcoin Capital, Avisa Ventures, JTSA Global, Paloma Investments and IBM. |
| Which companies are comparable to Portal to Bitcoin? | Companies comparable to Portal to Bitcoin include Ripple, Block, Coinbase, OKX, Circle and Kraken. |
| How many companies has Portal to Bitcoin acquired? | Portal to Bitcoin has acquired 1 company, including Cryptonaut. |
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