Bitcoin Startup River: $35M Funding with Peter Thiel's Backing

A $35 million Series B investment was raised by River Financial, a firm that offers financial services tied to Bitcoin.

With support from Peter Thiel, Cygni, Goldcrest, and Valor Equity Partners, Kingsway Capital led the funding effort.

River offers a number of Bitcoin-related services, such as recurring order brokerage with no fees, custody, mining, and a wallet that supports Lightning Network and on-chain transactions.

Additionally, the organization provides an enterprise API to assist companies in connecting to the Lightning Network, such as Chivo Wallet from El Salvador.

The latest interest in Bitcoin, according to Alex Leishman, CEO of River, is driven by institutional and commercial adoption, highlighting its significance in fostering a more secure and open global economy.

The price of Bitcoin has increased as a result of bank crises that occurred earlier this year, including the failure of institutions that supported cryptocurrencies.

In addition to investing in mining and Lightning infrastructure technologies, River intends to use the cash to increase the scope of its consumer offering and Bitcoin banking solutions.