Berlin based Fintech platform, Bitwala announced closing a €15 million funding on 30th November 2020. This round was led by the venture capital investor Earlybird and included participation from Global Brain and Coparion and some other investors.
The crypto services platform closed their €13 million Series A round last year. Besides the fresh funding received this year, Bitwala also received €183 million investments from venture capitalists. These venture capitalists include Global Brain Corporation, NKB Ventures, Sony Financial Ventures and G1 Ventures.
The proceeds of the recent funding will be utilized in scaling their customer reach and launching new products. The product manager of Bitwala, Kristina Walcker-Mayer also revealed that they will introduce a recurring service for purchasing crypto.
The company has seen a significant growth in the last few years. They currently have 150,000 consumers in across 32 countries and have more than 60 million Euros in digital cryptocurrencies for their clients. The startup also signed a partnership with Solaris, the Swiss neobank for getting digital asset custodian services. Under this partnership, the company will be able to now leverage the complete range of Banking-as-a-Service platform, from cards, KYC custody and digital bank accounts for the digital assets.
The platform allows the customers to invest in crypto currency straight from their bank account using their app. People can buy ether or bitcoin just with few clicks and just 1 percent trading charges. Anyone can get started with Bitwala in a few minutes by creating an account and verifying themselves over video call.
The first blockchain bank account, Bitwala provides a debit card that customers can use anywhere with no fees. It is the perfect travel companion featured with MasterCard debit that allows contactless transactions and free cash at more than 40 global ATMs. They also offer user managed crypto wallets for controlling user funds and transactions. The company believes that creating a financial future people want for themselves should be available for everyone.
Bitwala was founded in 2015 by Jörg von Minckwitz, Jan Goslicki and Benjamin Jones and is headquartered in Berlin, Germany. The company was launched in 2015 as a platform for crypto currency exchange. They later changed their business model in 2018 with inclusion of other services. Bitwala now provides digital banking and crypto currency custodian services. With Bitwala, the customers get an opportunity for easily investing in cryptocurrency and earn an annual return of up to 4 percent.
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