River – a Bitcoin technology and financial services startup – announced recently a $35 million equity round. And this series B funding round was led by Kingsway Capital. The other investors included Peter Thiel, Goldcrest, Cygni, M13, Valor Equity Partners, Esas Ventures, and Alarko Ventures.
River has a goal of championing an honest and robust financial system through the use of Bitcoin, the world’s only incorruptible digital money. And River is a one-stop shop for any person or business interested in Bitcoin. They also offer a suite of Bitcoin services, including Bitcoin brokerage with zero-fee recurring orders, full-reserve custody, mining, and a Bitcoin wallet that supports both on-chain and Lightning Network transactions.
Last year River announced the launch of River Lightning — which is an enterprise API that allows companies to easily integrate with the Lightning Network. And River Lightning is already utilized by a number of crypto apps, including El Salvador’s Chivo wallet, to enable instant Bitcoin payments.
The demand for Lightning transactions has grown rapidly in the last year and has accelerated to new levels in recent weeks by rising on-chain fees. Along with serving individuals and businesses directly, River intends to serve as the Bitcoin payments back-end for the industry. Part of this funding round will be used to further build out the B2B River Lightning segment.
“We’re seeing another wave of Bitcoin interest, largely driven by business and institutional adoption. It’s not fueled by hype. This year’s bank failures and bailouts have been a wake-up call, revealing the cracks of the traditional financial system and reminding us why Bitcoin is so important—it’s a secure path to a stronger and more transparent global economy. Adopting Bitcoin with a trusted partner is no longer the speculative choice, but rather the prudent one.”
“River has become the premier Bitcoin brand in the United States. We have deep Bitcoin expertise, focus, and frankly, we do things right. Unlike many crypto companies and regional banks for that matter, we have not taken shortcuts or reckless risks with our regulatory strategy and product offering. We’re a mission-driven company with full-reserve Bitcoin custody, and will continue to play our part in moving society towards a brighter economic future powered by Bitcoin.”
— Alex Leishman, River CEO