River, a Bitcoin financial services provider, raises $35 million in Series B fundraising

River, a company that provides Bitcoin technology and financial services, has successfully raised $35 million in equity funding for its Series B fundraising campaign. The round was led by Kingsway Capital, with participation from notable investors such as Peter Thiel, Cygni, Goldcrest, and Valor Equity Partners. River offers various Bitcoin services, including zero-fee recurring orders, mining, full-reserve custody, and a Bitcoin wallet that supports both on-chain and Lightning Network transactions.

Alex Leishman, the CEO of River, has highlighted the increasing interest in Bitcoin, driven by businesses and institutions adopting this technology. He emphasized the importance of Bitcoin in creating a secure path towards a more transparent global economy, especially in the wake of recent bank failures and bailouts. Leishman stated that adopting Bitcoin with a trusted partner is no longer a speculative choice, but rather a prudent one.

According to a press release sent to Bitcoin Magazine, River has experienced significant growth in demand for its enterprise Lightning API, River Lightning. This API allows companies to integrate with the Lightning Network and facilitate instant Bitcoin payments. Notably, El Salvador’s Chivo wallet relies on River Lightning for Lightning transactions. The surge in demand for Lightning transactions, driven by rising on-chain fees, has prompted River to expand its B2B River Lightning segment.

Leishman emphasized River’s commitment to responsible and reliable practices, setting the company apart from others in the crypto industry. He noted that they have not taken shortcuts or reckless risks with their regulatory strategy and product offering. River is a mission-driven company with full-reserve Bitcoin custody and will continue to play its part in moving society towards a brighter economic future powered by Bitcoin.

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