Bitcoin financial services provider River secured significant funding in its Series B round, led by Kingsway Capital.
Bitcoin company River has successfully raised $35 million in a funding round known as Series B. The round was led by investment firm Kingsway Capital and included participation from billionaire investor Peter Thiel.
River provides various services related to Bitcoin for both individuals and businesses. These services include a brokerage that allows zero-fee dollar-cost averaging, mining, secure custody of Bitcoin funds, and a wallet that supports transactions on both the Bitcoin network and the Lightning Network. The Lightning Network is a technology that helps improve transaction speed and reduce fees. Additionally, River has introduced River Lightning, an API that simplifies the integration of applications with the Lightning Network for businesses.
According to River CEO Alex Leishman, recent bank failures and bailouts have highlighted the importance of Bitcoin. In a press release, he emphasized that Bitcoin offers a secure pathway to a more fair, equal, and transparent global economy. River’s objective is to make investing in Bitcoin easy and accessible for everyone who seeks an alternative to the current financial system. The funding round further signifies their dedication to promoting an honest and strong financial environment through the use of Bitcoin, which is recognized as the world’s only incorruptible digital currency.
In addition to Kingsway Capital and Peter Thiel, other investors participating in the recent funding round for River were Cygni, Goldcrest, and Valor Equity Partners. This follows River’s previous funding round in 2021, where they raised $12 million in a Series A round.
This information is for general knowledge only and should not be considered as advice for investing or making financial decisions.