Ohio’s COLUMBUS, May 16, 2023 – River a startup providing financial services and Bitcoin technology, announced a USD 35 million equity round. Kingsway Capital served as the lead investor in this series B. Peter Thiel, Goldcrest, Cygni, M13, Valour Equity Partners, Esas Ventures, and Alarko Ventures were among the other investors.
Through Bitcoin, the only uncorruptible digital currency in the world, River aims to promote an honest and reliable financial system. Individuals or companies interested in Bitcoin can find all they need at River. Various Bitcoin services are available from them, including mining, Bitcoin brokerage with no-fee recurring orders, full-reserve custody, and a Bitcoin wallet that works with both on-chain and Lightning Network transactions.
River debuted River Lightning, an enterprise API that enables quick integration with the Lightning Network, last year. Many cryptocurrency apps already use River Lightning to support rapid Bitcoin payments, like El Salvador’s Chivo wallet.
Due to rising on-chain costs, the demand for Lightning transactions has increased significantly over the past year and reached new heights recently. In addition to actively assisting customers, River also wants to act as the market’s back-end for Bitcoin payments. The B2B River Lightning component will be further developed using a portion of this investment round.
“River has emerged as the top Bitcoin brand in the US. Leishman says our concentration is on Bitcoin, and we do things honestly and correctly. “Unlike many crypto startups and local banks, we haven’t cheated on our regulatory plan or thrown caution to the wind regarding our product offering. We are a mission-driven business with full-reserve Bitcoin custody, and we will continue to contribute to society’s transition to a more promising Bitcoin-based economic future.
About the company:
River is a Bitcoin technology and financial services firm that was founded in 2019. One simple smartphone app and River.com provide the complete range of Bitcoin brokerage, custody, and mining services. The business is a pioneer in Lightning infrastructure, facilitating Lightning transactions for other crypto ecosystem exchanges and wallets.
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