Venture Investing
Investing in Bitpay | How to Buy Pre-IPO Shares
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BitPay is a private cryptocurrency-payments company that helps merchants accept digital assets and settle in cryptocurrency or local currency. Its products include payment processing, payouts, invoicing, and wallet services.
BitPay has operated since 2011, but private shares remain illiquid. Their value depends on transaction growth, merchant retention, regulation, competition, fees, the security offered, dilution, and the timing—or absence—of a future exit.
What Is BitPay?
BitPay was founded in 2011 to make cryptocurrency useful for commerce. Merchants can price goods in local currency, accept supported digital assets, and choose how settlement is received.
Business Model and Key Products
The company says its platform supports more than 100 coins across six networks. In July 2026, BitPay announced that it had received authorization under the European Union Markets in Crypto-Assets framework.
BitPay Funding and Valuation History
BitPay announced a $30 million Series A in 2014 and a $40 million Series B in May 2018. The two verified rounds total $70 million. BitPay has not publicly announced a later priced equity round.
BitPay Selected Funding Events
Company-announced primary equity financing, USD millions.
Verified Aug. 27, 2026
2014–2018 · $0–$50M
| Date | Round / type | Funding Raised | Reported valuation | Selected investors | Source |
|---|---|---|---|---|---|
| May 8, 2018 | Series B | $40M | Not disclosed | Menlo Ventures; Capital Nine; Delta-v Capital; others | BitPay |
| 2014 | Series A | $30M | Not disclosed | Index Ventures; Founders Fund; Felicis Ventures; others | BitPay |
Methodology: Only company-announced external equity rounds with a disclosed amount are included. Revenue, customer funds, token holdings, debt, grants, and undisclosed investments are excluded. No later priced equity financing was found in BitPay’s press archive.
Investment Case
The investment case depends on whether BitPay can expand regulated cryptocurrency payments while maintaining competitive economics and reliable settlement.
Merchant Utility
Payment processing gives businesses a way to accept digital assets without assuming every operational burden of direct crypto settlement.
Regulatory Footprint
European authorization may support compliant distribution and enterprise confidence in an important market.
Broad Asset Support
Support for many coins and networks can make the platform useful to a wider set of merchants and customers.
Operating History
BitPay has operated through multiple cryptocurrency cycles since 2011.
Key Risks
Crypto-Cycle Risk
Payment demand, customer interest, and transaction volumes can change materially with cryptocurrency prices and sentiment.
Regulatory Risk
Payments, wallets, anti-money-laundering rules, licensing, and sanctions compliance vary by jurisdiction.
Competition
Exchanges, payment processors, stablecoin providers, and merchant platforms compete on price, coverage, and integration.
Cybersecurity and Custody
Security failures, fraud, wallet compromise, or service interruptions could create losses and reputational damage.
Stale Financing Benchmark
The latest disclosed financing dates to 2018 and does not provide a current company valuation.
Liquidity and Structure
Private interests may have transfer restrictions, limited information rights, fees, and no dependable resale market.
How to Buy BitPay Pre-IPO Shares
- Confirm that BitPay remains private. Check for an SEC registration statement, a confirmed listing, or a material corporate transaction before pursuing private shares.
- Confirm your eligibility. Many late-stage secondary offerings use Regulation D and are limited to accredited investors. Individuals may qualify through net worth, income, or specified professional criteria.
- Find a live opportunity. Search registered private-market platforms or work with a qualified broker. A platform’s inclusion here does not mean it currently lists BitPay.
- Review the security and vehicle. Determine whether the offer provides direct company shares or an interest in an SPV. Review share class, liquidation preferences, voting rights, information rights, and the investment manager.
- Evaluate price and fees. Compare the offered price and implied valuation with the latest financing while accounting for platform fees, carried interest, SPV expenses, and security rights.
- Review transfer and exit restrictions. Examine company consent requirements, rights of first refusal, holding periods, and what happens if an IPO or acquisition never occurs.
Accredited-investor criteria: Under current SEC criteria, an individual may qualify through net worth above $1 million excluding the primary residence; income above $200,000 individually or $300,000 with a spouse or partner in each of the prior two years with a reasonable expectation of the same; or certain professional criteria. Review the SEC criteria.
Where to Buy BitPay Pre-IPO Shares
Availability on private marketplaces changes with seller supply, company transfer restrictions, jurisdiction, and investor eligibility. Always verify the live offering rather than assuming that BitPay shares are available.
MicroVentures
MicroVentures facilitates primary and secondary private-company offerings. Eligibility, minimums, fees, investment structure, and availability vary by offering; Regulation D opportunities are limited to accredited investors.
View Available Private-Market Opportunities
BitPay availability is not guaranteed. Review the specific offering documents before investing.
| Platform | Typical access model | What to verify |
|---|---|---|
| StartEngine Private | Late-stage private-company offerings | Current issuer availability, eligibility, minimum, fees, and vehicle structure |
| Forge Global | Private-company secondary marketplace and brokerage | Seller availability, accreditation, price, share class, and transaction costs |
| EquityZen | Private-company offerings that may use pooled vehicles | SPV terms, fees, minimum, economic rights, and transfer conditions |
| Rainmaker Securities | Broker-assisted private-company transactions | Security source, broker fees, settlement, and company approval |
| Hiive | Private-market bids, asks, and facilitated trades | Indicative versus executable pricing, fees, and transfer restrictions |
| EquityBee | Employee stock-option financing and related exposure | Contract structure, payoff terms, fees, and whether exposure is direct or indirect |
| Augment | Private-market transaction platform | Counterparty, price, share class, fees, and settlement terms |
BitPay Valuation and IPO Outlook
BitPay has not announced a later priced equity round, a public registration statement, an exchange, a ticker, or a confirmed IPO date. The 2018 Series B therefore should not be treated as a current valuation benchmark.
Prospective investors should request current revenue, transaction volume, regulatory status, capitalization, share-class rights, fees, and transfer restrictions before evaluating any secondary offer.
Investing in BitPay Pre-IPO Shares | Conclusion
BitPay combines a long operating history with merchant cryptocurrency-payment infrastructure and an expanding regulated footprint.
Crypto cyclicality, regulation, competition, security, stale financing information, and illiquidity remain material risks. Any investment should be underwritten from current company information and the exact security offered.
Explore other pre-IPO investment opportunities.
Primary and Supporting Sources
- BitPay Series B announcement
- BitPay anniversary and Series A history
- BitPay press archive
- BitPay business product overview
Disclaimer: This article is for informational purposes only and does not constitute financial, investment, legal, or tax advice. Private securities can result in the loss of the entire investment and may remain illiquid indefinitely. Company and marketplace availability can change without notice. Verify all terms in the applicable offering documents and consult qualified professional advisers where appropriate.
