River Financial, a Bitcoin technology and financial services business, announced a $35 million round of funding today. Kingsway Capital led the series B fundraising. Peter Thiel, Goldcrest, Cygni, M13, Valor Equity Partners, Esas Ventures, and Alarko Ventures were among the other investors.
River is a Bitcoin technology and financial services firm that was founded in 2019. River provides a full array of Bitcoin brokerage, custody, and mining services in a single, user-friendly mobile app and on River.com. The company is also a leader in Lightning infrastructure, facilitating Lightning transactions for other crypto exchanges and wallets.
River is on a mission to promote an honest and resilient financial system by employing Bitcoin, the world’s only incorruptible digital currency. River is a one-stop shop for everybody or any company interested in Bitcoin. They provide a variety of Bitcoin services, such as Bitcoin brokerage with no-fee recurring orders, full-reserve custody, mining, and a Bitcoin wallet that supports on-chain and Lightning Network transactions.
River Lightning, an enterprise API that allows businesses to quickly interact with the Lightning Network, was launched last year. River Lightning is already used to facilitate fast Bitcoin payments by a number of crypto apps, including El Salvador’s Chivo wallet.
Lightning transaction demand has increased dramatically in the last year, reaching new highs in recent weeks as on-chain rates have risen. River aspires to serve as the Bitcoin payments back-end for the sector, in addition to directly serving consumers and businesses. A portion of this investment round will be used to expand the B2B River Lightning segment.
