**Castle Secures $1M to Launch Automated Bitcoin Treasury for SMBs**
Castle, a bitcoin treasury platform designed for small and medium-sized businesses (SMBs), has successfully raised $1 million in an oversubscribed pre-seed funding round aimed at enhancing bitcoin accessibility for businesses. This funding round was led by Boost VC, with participation from Winklevoss Capital, Park Rangers Capital, Epoch VC, and various angel investors.
Stephen Cole, CEO of Castle, emphasized the need for better savings solutions for SMBs, stating, “Most savings products marketed to small and medium businesses, even those labeled as high-yield, often result in losses when adjusted for inflation. Business owners are becoming aware of this reality and deserve superior options.” He highlighted bitcoin’s limited supply and its status as the best-performing asset over the past decade, expressing excitement about making it available to companies nationwide.
The newly acquired funds will facilitate the rapid deployment of Castle’s automated bitcoin treasury solution, which seamlessly integrates with popular financial tools such as QuickBooks, PayPal, Square, and Stripe. This integration allows SMBs to safeguard their wealth against inflation by automatically converting a portion of their revenue into bitcoin. João Almeida, CTO of Castle, noted, “By connecting with tools like QuickBooks and PayPal, our platform provides businesses with intelligent bitcoin exposure tailored to their operational needs. Castle is designed to operate in the background, allowing owners to concentrate on their core activities while ensuring their bitcoin treasury aligns with their preferences.”
Castle offers a range of strategic options, from conservative to aggressive, enabling businesses to tailor their bitcoin allocations according to their risk tolerance. Its current clientele spans various sectors, including restaurants, fitness, accounting, e-commerce, SaaS, real estate, and fine art.
Brayton Williams, Managing Partner at Boost VC, remarked, “We view bitcoin as the most powerful savings technology available, and Castle is simplifying access for small and medium businesses. The founders possess extensive experience in bitcoin and technology, combining a strong sense of mission with execution capabilities, and Boost VC is thrilled to support them.”
Castle’s platform features automated recurring bitcoin allocations based on fixed amounts or revenue percentages, cash thresholds that trigger automatic purchases or sales to maintain liquidity, and customizable settings for minimum and maximum bitcoin exposure. The Winklevoss twins, founders of Winklevoss Capital, stated, “Bitcoin is the ultimate store of value. Unlike fiat currency, it preserves the value of your hard work. Castle lives up to its name by helping businesses protect their balance sheets through automatic conversions of a portion of every sale into bitcoin.”
In conclusion, Castle’s innovative approach to bitcoin treasury management positions it as a valuable resource for SMBs looking to enhance their financial strategies and protect their assets in an inflationary environment.
**FAQ**
**What is Castle’s bitcoin treasury platform?**
Castle’s platform allows small and medium-sized businesses to automatically convert a portion of their revenue into bitcoin, helping them protect their wealth from inflation while integrating with popular financial tools.