German cryptocurrency startup Bitwala raises €13 million in Series A funding

German cryptocurrency startup Bitwala raises €13 million in Series A funding

Bitwala, a Berlin-based provider of crypto banking services, has raised €13 million in Series A funding from a group of international investors in a round led by Sony Financial Ventures/Global Brain and NKB Group. Half the round comes from prior backers Earlybird and coparion.

Founded in 2015, Bitwala says it is currently the only provider of a banking service that comes with a free current account + a built-in Bitcoin wallet as well as trading options for the cryptocurrency, courtesy of a partnership with Germany's solarisBank.

The cash injection should allow the startup to attract new customers - it says already boasts retail customers in all 31 countries of the European Economic Area despite having launched its service only at the end of last year - as well as new talent, and to start offering Bitcoin accounts for businesses.

"I could not be more proud of the team! When we started in 2015, we were three founders and a dog: I never dared to imagine for Bitwala to grow into such a thriving business with so many talented people and thousands of customers across Europe," said Bitwala’s co-founder and CTO, Ben Jones.

"Today, we are offering a bridge for both mainstream users and blockchain buffs, who want to interact with the emerging blockchain ecosystem - the growing digital economy spreading across the globe. While there is still huge upside potential, it has already been a humbling experience to see the ecosystem grow and for Bitwala to play such an important part in that."

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