River Financial, a Bitcoin-focused startup based in Columbus, Ohio, has raised $35M in a Series B funding round led by Kingsway Capital.
Other investors include PayPal co-founder Peter Thiel, Cygni, Goldcrest, and Valor Equity Partners.
The 45-person team will use the funds to expand their services, invest in infrastructure products, and mining.
Alexander Leishman, head of River Financial, believes this is a new wave of interest in Bitcoin, largely driven by institutional adoption, and is not just another hype.
He has stated that the bankruptcies and bailouts this year have been a wake-up call that exposes cracks in the traditional financial system and reminds us why Bitcoin is so important – it is a safe path to a stronger and more transparent global economy.