About Lulubit

Lulubit provides a mobile platform for individuals and businesses in Central America to buy, sell, and spend cryptocurrency. It offers direct fiat-to-crypto integration with local banks and a crypto-debit card for everyday spending and merchant payments.

<problem>Retail users and small businesses in Central America face limited options for buying, selling, and spending cryptocurrency. Traditional exchanges charge high fees, and P2P networks are unreliable, while local banks do not provide seamless crypto‑fiat integration. This creates friction for everyday transactions, remittances, and cross‑border payments.</problem> <solution>Lulubit offers a mobile platform that connects local bank accounts directly to crypto markets, allowing users to deposit fiat and instantly purchase over 30 cryptocurrencies. The app issues a crypto‑debit card (Lulucard) that enables merchants to accept crypto payments and users to spend crypto at any point‑of‑sale. It also provides on‑chain remittance services with lower fees than conventional methods and a suite of B2B tools for businesses to collect cross‑border crypto payments. By partnering with Mastercard, Lulubit extends cross‑border payment capabilities and simplifies fiat‑crypto ramps across Panama, Guatemala, Costa Rica and expanding markets.</solution> <features> - Direct ACH and local‑bank transfers for free fiat deposits and instant withdrawals in Panama, Guatemala, and Costa Rica. - Crypto‑debit card (Lulucard) linked to the app for merchant payments and ATM withdrawals. - Support for buying and selling Bitcoin, Ethereum and more than 30 additional cryptocurrencies. - On‑chain remittance functionality with reduced fees compared to traditional remittance services. - B2B solution enabling over 100 businesses to accept crypto payments and manage cross‑border transactions. - Interest‑earning accounts offering up to 7% annual yield on stablecoin holdings (DAI, USDT/USDC/ETH). - Integration with Mastercard for cross‑border payments and global card acceptance. </features> <target_audience>Individuals and small to medium enterprises in Panama, Guatemala, Costa Rica and other Central American countries seeking low‑cost, fast access to cryptocurrency for payments, savings, and remittances.</target_audience> <revenue_model>Revenue is generated through transaction fees on crypto trades, interchange fees from card usage, and spreads on interest‑bearing stablecoin accounts.</revenue_model> <traction>By July 2024 Lulubit processed $1.5 M in transaction volume, growing 20 % month‑over‑month. In April 2024 it processed $1.3 M, a 36 % MoM increase. The platform serves over 50 000 users, with more than 1 500 active Lulucards daily and over 100 businesses using its B2B payment solution. Assets under management doubled in the most recent quarter.</traction> <sources> - https://www.f6s.com/company/lulubit - https://mailchi.mp/berkeley/partnerships-and-fundraising - https://techcrunch.com/2024/05/02/alliance-dao-batch-12/ - https://www.lulubit.app - https://www.lulubit.app/post/seed-round-lulubit-announcement - https://www.lulubit.app/post/caso-de-%C3%A9xito-canalbank-y-lulubit-impulsando-la-integraci%C3%B3n-bancaria-para-fintechs-en-panam%C3%A1 - https://liberation.travel/make-crypto-panama-great-again-as-a-panamanian-resident-take-advantage-of-panamas-new-crypto-services/ - https://es.cointelegraph.com/news/lulubit-expands-to-honduras-and-dominican-republic - https://www.criptofacil.com/es/lulubit-abre-fronteras-en-honduras-y-republica-dominicana/ - https://www.lulubit.app/empresas </sources>

What does Lulubit do?

Where is Lulubit located?

Lulubit is based in Panama City, United States.

When was Lulubit founded?

Lulubit was founded in 2022.

How much funding has Lulubit raised?

Lulubit has raised 1300000.

Location

Panama City, United States

Founded

2022

Funding

1300000

Employees

12 employees

Major Investors

Lattice, Reverie, Side Door Ventures, AllianceDAO, Michael A. Hanono, Arkfund

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Lulubit

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Executive Summary

lulubit.app 1K+

Crunchbase

Founded 2022 – Panama City, United States

Funding

Estimated Funding

$1M+

Major Investors

Lattice, Reverie, Side Door Ventures, AllianceDAO, Michael A. Hanono, Arkfund

Team (10+)

No team information available.

Company Description

Problem

Retail users and small businesses in Central America face limited options for buying, selling, and spending cryptocurrency. Traditional exchanges charge high fees, and P2P networks are unreliable, while local banks do not provide seamless crypto‑fiat integration. This creates friction for everyday transactions, remittances, and cross‑border payments.

Solution

Lulubit offers a mobile platform that connects local bank accounts directly to crypto markets, allowing users to deposit fiat and instantly purchase over 30 cryptocurrencies. The app issues a crypto‑debit card (Lulucard) that enables merchants to accept crypto payments and users to spend crypto at any point‑of‑sale. It also provides on‑chain remittance services with lower fees than conventional methods and a suite of B2B tools for businesses to collect cross‑border crypto payments. By partnering with Mastercard, Lulubit extends cross‑border payment capabilities and simplifies fiat‑crypto ramps across Panama, Guatemala, Costa Rica and expanding markets.

Features

Direct ACH and local‑bank transfers for free fiat deposits and instant withdrawals in Panama, Guatemala, and Costa Rica.

Crypto‑debit card (Lulucard) linked to the app for merchant payments and ATM withdrawals.

Support for buying and selling Bitcoin, Ethereum and more than 30 additional cryptocurrencies.

On‑chain remittance functionality with reduced fees compared to traditional remittance services.

B2B solution enabling over 100 businesses to accept crypto payments and manage cross‑border transactions.

Interest‑earning accounts offering up to 7% annual yield on stablecoin holdings (DAI, USDT/USDC/ETH).

Integration with Mastercard for cross‑border payments and global card acceptance.

Target Audience

Individuals and small to medium enterprises in Panama, Guatemala, Costa Rica and other Central American countries seeking low‑cost, fast access to cryptocurrency for payments, savings, and remittances.

Revenue Model

Revenue is generated through transaction fees on crypto trades, interchange fees from card usage, and spreads on interest‑bearing stablecoin accounts.

Traction

By July 2024 Lulubit processed $1.5 M in transaction volume, growing 20 % month‑over‑month. In April 2024 it processed $1.3 M, a 36 % MoM increase. The platform serves over 50 000 users, with more than 1 500 active Lulucards daily and over 100 businesses using its B2B payment solution. Assets under management doubled in the most recent quarter.

Sources:

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