Castle, a Miami-based bitcoin treasury platform for small and medium-sized businesses, has completed a $1 million raise. They achieved this in a $1.2M pre-seed funding round. With their product Intelligence-based Insurance, the company is enabling businesses to save their balance sheets. They do this by automatically converting a percent of each sale into bitcoin.

Boost VC participated in the financing round. They were backed by Winklevoss Capital, Park Rangers Capital, Epoch VC and a number of angels. Castle intends to use the investment to enhance its proprietary platform and connect with more businesses and institutions.

Founded by CEO Stephen Cole and CTO João Almeida, Castle is designed to integrate with other business critical tools, including QuickBooks, PayPal, Square and Stripe. The product concept is to be as submersible as possible. This provides business owners the ability to focus on running their businesses while still getting the benefits and exposure to bitcoin. Castle’s customers are in all arenas – restaurants, fitness, accounting, e-commerce, SaaS, real estate and fine art, just to name a few.

"Most savings products used by small and medium businesses, despite being framed as high-yield, actually lose money after accounting for inflation." - Stephen Cole, Castle’s CEO

Castle’s central mission is to bring bitcoin to Main Street businesses. This gives them the opportunity to shield their savings from the eroding effects of inflation. The platform allows these businesses to invest a percentage of their sales directly into bitcoin. This smart feature coincides perfectly with their highly specialized operational requirements.

"By integrating with tools like QuickBooks, PayPal, Square, and Stripe, our platform gives businesses intelligent bitcoin exposure aligned with their operational requirements. 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." - João Almeida, Castle’s CTO

Stephen Cole is convinced that the next 10 years will be a time of mass adoption of bitcoin by Main Street businesses. He sees bitcoin as an essential pillar of their financial plans going forward.

"Bitcoin isn’t just for Silicon Valley and Wall Street, it’s also for Main Street. We believe all businesses will begin upgrading to bitcoin over the next 10 years, and those earliest to do so stand to benefit the most." - Stephen Cole, Castle’s CEO

Investors share Castle's vision for bitcoin adoption. Brayton Williams, Managing Partner of Boost VC, bitcoin a great savings technology.

"Bitcoin is the ultimate store of value. 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." - Cameron and Tyler Winklevoss

Castle’s expertise is in assisting large companies transition to bitcoin. It’s those who take the plunge first who will benefit the most from this coming transition.