Bitcoin technology and financial services company, River, has announced a successful $35 million equity round in its Series B fundraising effort. Led by Kingsway Capital, the round saw participation from high-profile investors such as Peter Thiel, Cygni, Goldcrest and Valor Equity Partners. The company provides a range of Bitcoin services, including no-fee recurring orders, full custody, mining, and a Bitcoin wallet that supports both on-chain transactions and the Lightning Network.
Alex Leishman, CEO of River, highlighted the growing interest in Bitcoin driven by corporate and institutional adoption. He stressed the importance of bitcoin as a safe path to a stronger and more transparent global economy, especially in light of recent bank failures and bailouts. “Adopting Bitcoin with a trusted partner is no longer a speculative choice, but a prudent choice,” said Lishman.
According to a press release sent to Bitcoin Magazine, River has seen significant growth in demand for its foundation Lightning API, River Lightning. This API enables companies to integrate with the Lightning Network and facilitate instant Bitcoin payments. Notably, Chivo Wallet in El Salvador relies on River Lightning for Lightning transactions. The rise in demand for Lightning transactions, driven by higher on-chain fees, prompted River to expand its B2B River Lightning segment.
Leishman emphasized River’s commitment to responsible and trusted practices, which sets the company apart from others in the crypto industry. He noted that “we have not taken shortcuts or reckless risks with our regulatory strategy and product offerings. We are a mission-driven company with a full Bitcoin reserve, and we will continue to play our part in moving society towards a brighter economic future powered by Bitcoin.”