Firefish, a European open marketplace for bitcoin-collateralised loans, has successfully raised $1.8 million in seed funding.
Bitcoin mining pool Braiins and venture capital firm Miton participated in this funding round as Firefish prepares for a global expansion. The platform provides bitcoin holders with a straightforward and secure means to borrow cash against their cryptocurrency without the need for a custodian. By utilizing on-chain escrow and peer-to-peer matching, users can leverage their bitcoin without selling it, thereby avoiding capital gains taxes.
Currently supporting the euro, Firefish has also introduced instant USDC loans along with options for Swiss francs.
Martin Matejka, CEO of Firefish, commented: “This investment validates our vision and demonstrates that Bitcoin-native lending can be achieved at scale—without taking shortcuts. Firefish is where serious capital meets Bitcoin-native infrastructure, with open price discovery and zero rehypothecation.”
The firm reports over $100 million in transaction volume, more than 10,000 users, and nearly 1,000 BTC in escrowed collateral. Recently, Braiins obtained a $400,000 loan through Firefish.
Eli Nagar, CEO of Braiins, stated, “It took less than 24 hours to collateralize 8.75 BTC and borrow euros. 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.”