Bitpowr processed $200 million in transaction volume by February 2024. By March 2026, that number had passed $1 billion [VentureBeat, Mar 2026]. The company did it with a team of about 14 people and a single disclosed funding round of $150,000 from the 500 Global accelerator [getlatka.com, Unknown][Bitpowr, Unknown]. For a Lagos-based blockchain infrastructure provider, the figures suggest a wedge that works.
The wedge from a wallet
Founder Tobiloba Oyetoke built the initial product while working at a crypto exchange. Third-party wallet and custody tools were expensive and cumbersome, so he coded an internal system to manage them [VentureBeat, Mar 2026]. That system became the core of Bitpowr, which launched in 2022 to offer businesses digital-asset custody, wallet APIs, and blockchain infrastructure [CB Insights, Unknown]. The pitch is straightforward: handle the complex, regulated backend so clients can build crypto-enabled products faster. Oyetoke, who serves as CEO and CTO, describes it as removing the upfront infrastructure expense required to power blockchain businesses [Bitpowr, Unknown].
A pivot in geography
The company's earliest reported clients were in Nigeria and Cameroon [TechCabal, Jan 2022]. Its initial traction, however, came from an unexpected direction. By early 2024, the company reported that customers in Asia were contributing more transaction volume than its African customers [BitcoinKE, Feb 2024]. This shift wasn't a planned pivot but a signal of product-market fit in regions with high crypto adoption and a similar need for reliable, compliant infrastructure. The company now serves customers across both Africa and Southeast Asia [Technext, Feb 2026].
The team and the tools
The founding team pairs technical depth with operational rigor. Oyetoke began coding at 14 and has a professional engineering background spanning payments and crypto [VentureBeat, Mar 2026]. Co-founder and COO Amarachi Amaechi transitioned from accounting and corporate finance into software engineering, bringing a compliance-first mindset to the operation [VentureBeat, Mar 2026]. They met in 2018 on freelance projects before founding Bitpowr. This combination is reflected in the product suite, which the company says includes integrated compliance infrastructure for KYC, KYT, and AML processes, supporting over a dozen blockchains [Bitpowr, Unknown].
| Co-Founder | Title | Key Background |
|---|---|---|
| Tobiloba "Tobi" Oyetoke | CEO & CTO | Professional software engineer since 2014; built agrotech and crypto-exchange products prior [TechCabal, Jan 2022]. |
| Amarachi Amaechi | COO | Background in accounting and corporate finance; transitioned to software engineering in 2020 [VentureBeat, Mar 2026]. |
Where the wheels could come off
The company's growth is impressive, but its path is lined with specific, measurable risks. The blockchain infrastructure space is crowded with well-funded global players. Bitpowr's technical differentiation rests on its API abstraction and integrated compliance, but maintaining that edge against larger engineering budgets is a constant challenge. Furthermore, the regulatory landscape for digital assets remains fragmented, especially across the two core markets of Africa and Asia. A major regulatory shift in a key country could instantly alter the unit economics for serving that region.
- Funding runway. The only disclosed capital is the $150,000 from the 500 Global accelerator in 2022 [Bitpowr, Unknown]. Processing over $1 billion in volume likely requires significant operational capital for security, compliance, and personnel. The company has not announced a subsequent priced round.
- Revenue concentration. While total processed volume is reported, the company has not disclosed revenue, customer count, or whether volume is concentrated with a handful of large clients. A dependency on one or two major exchanges or fintechs would be a material risk.
- Competitive moat. The "AWS of crypto" analogy is aspirational, but competing requires continuous feature development and likely significant sales investment. The company's small team must execute against larger, better-funded incumbents and new entrants.
The 500 Global check bought credibility and a global network, but the next capital infusion will need to be larger and strategic. The question for investors is whether Bitpowr can convert its transaction volume milestone into a durable, high-margin enterprise business before its runway expires. Can a company built on a $150,000 seed secure the eight-figure round it likely needs to own the infrastructure layer across emerging markets?
Sources
- [VentureBeat, Mar 2026] Bitpowr surpasses USD1B in transactions: The story of two founders bridging | https://venturebeat.com/business/bitpowr-surpasses-usd1b-in-transactions-the-story-of-two-founders-bridging
- [BitcoinKE, Feb 2024] INTRODUCING| Nigerian Blockchain Infrastructure Startup, BitPowr … | https://bitcoinke.io/2024/02/introducing-bitpowr/
- [getlatka.com, Unknown] Bitpowr company profile |
- [Bitpowr, Unknown] Bitpowr joins 500 Global’s Flagship Accelerator Program | https://bitpowr.com/blog/bitpowr-joins-500-global-s-flagship-accelerator-program
- [CB Insights, Unknown] Bitpowr, research brief | https://www.cbinsights.com/company/bitpowr
- [TechCabal, Jan 2022] BitPowr wants to power blockchain applications for African businesses | https://techcabal.com/2022/01/13/bitpowr-helps-businesses-build-on-blockchain/
- [Technext, Feb 2026] How BitPowr built a $1 billion African blockchain infrastructure and scaled it globally - Technext | https://technext24.com/2026/02/20/how-bitpowr-built-a-1-billion-african-blockchain-infrastructure-and-scaled-it-globally/