Blockchain payments firm Centbee has announced the successful completion of its $1 million pre-Series A funding round led by Ayre Ventures, a company founded by entrepreneur Calvin Ayre.

Centbee, which is headquartered in London with additional offices in South Africa, was founded by Co-CEOs Lorien Gamaroff and Angus Brown. Brown, who has a background in payments and banking, was appointed Chairman of the BSV blockchain's Technical Standards Committee earlier this year.

This marks the second time Ayre Ventures has invested in Centbee, having first done so in 2019. Speaking on the new funding, Ayre praised Centbee's dedication to making Bitcoin (in the form of BSV) easily accessible and usable for all, stating that BSV is focused on utility rather than speculation.

Centbee Co-CEO Lorien Gamaroff added that the company has the right vision, products, and team to drive significant growth for its investors, citing its blockchain-based payment wallet and in-wallet chat application, ChatPay, as examples of its innovative offerings.

The new funding from Ayre Group will be used to support scaling and growth efforts, as well as to enhance technical and operational capabilities.