Bitcoin Cash Conversion App Abra Raises $12 Million Series A

     Abra, a startup developing a bitcoin remittance app, has just raised $12 million in new funding.

     The Series A round attracted support from a number of investors, including Arbor Ventures, RRE Ventures and First Round Capital.

     Together with the seed funding it raised previously, the company has now received more than $14 million in investment.

     The company plans to use the new funds to further develop the functionality of its remittance app and expand the reach of its services.

In a statement, RRE Ventures and Abra co-founder Jim Robinson said the company is “capitalizing on the potential of technology to reduce friction in financial services.”

He added:

     “It’s not just about Bitcoin, it’s about using this technology to solve problems for consumers around the world, even if they don’t know what blockchain is.”