Bitcoin lending platform Firefish has raised $1.8 million in seed funding as it looks to scale its peer-to-peer marketplace globally. The round included participation from bitcoin mining pool Braiins and VC firm Miton.
Firefish enables bitcoin holders to borrow fiat currencies like euros, Swiss francs, and USDC without selling their BTC or relying on custodians — avoiding capital gains tax and counterparty risk. Its model uses on-chain escrow and direct peer-to-peer loan matching, providing transparency, open price discovery, and zero rehypothecation.
The platform has processed over $100 million in transaction volume, with 10,000+ users and nearly 1,000 BTC held in escrow. Braiins recently borrowed €400,000 through Firefish by collateralising 8.75 BTC in less than 24 hours.
“This investment validates our vision and demonstrates that Bitcoin-native lending can be done at scale — without taking shortcuts,” said Martin Matejka, CEO of Firefish. “We’re where serious capital meets Bitcoin-native infrastructure.”
Eli Nagar, CEO of Braiins, added: “This investment reflects our belief that Bitcoin holders don’t want counterparty risk. With Firefish, the rules are enforced by code, not third-party trust.”