Representatives of startup Bitwala intending to combine traditional banking system with crypto-currencies, announced the receipt of $4 million during the next funding round. The investors German venture capital company EarlyBird and the Fund COPARION.
We just closed our latest funding round of €4 million to bring the world a first of its kind blockchain banking experience. We’re happy to welcome @EarlybirdVC and @coparion_vc to our family of investors.#bitcoin #blockchainbanking #funding https://t.co/sme6AyrtKO
— Bitwala (@bitwala) September 25, 2018
“The experience of the project team convinced us that Bitwala will allow anyone to comfortably and safely work with cryptocurrencies from your Bank account”, — explained the decision on the partnership representative Earlybird Christian ELISA Nagel.
According to representatives of the Bitwala completed a round of financing reflects investor confidence in the product and the project team. According to them, the resulting investments will be the basis for conducting further research on the creation of a friendly environment for cryptocurrency in the banking industry.
“I am very proud that thanks to our new product we will eliminate the gap between digital currencies and traditional banking service”, — said the President Bitwala GmbH jörg von Minckwitz.
In connection with the completion of the funding round team Bitwala decided to remind about their achievements for the year 2018. In January, the number of users increased to 80 thousand, in addition, the startup entered into an agreement with a German Bank on the provision of blockchain services with a waiting list of 30 million users. Also representatives Bitwala announced the launch of a new product in November 2018.
We will remind, earlier Bitwala announced the reformatting business. The reason was the closure of its Bank accounts and stopping services related to the issuance and service of prepaid cards.
Note that in 2016 Bitwala already received venture capital investments in the amount of 800 thousand euros for the development of the payment system, expanding team and increasing client base.
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