Bitcoin technology and financial services startup River has raised $35 million in a Series B funding round.
The round was led by Kingsway Capital, with participation from investors including Peter Thiel, Goldcrest, Cygni, M13, Valor Equity Partners, Esas Ventures, and Alarko Ventures.
Dedicated to promoting a robust financial system through the use of Bitcoin, River provides a comprehensive suite of Bitcoin services.
This includes Bitcoin brokerage with zero-fee recurring orders, full-reserve custody, mining, and a Bitcoin wallet that supports both on-chain and Lightning Network transactions.
According to River’s CEO, Alex Leishman, the firm is witnessing a fresh surge of interest in Bitcoin, primarily driven by business and institutional adoption.
“This year’s bank failures and bailouts have been a wake-up call, revealing the cracks of the traditional financial system and reminding us why Bitcoin is so important—it’s a secure path to a stronger and more transparent global economy,” said Leishman.
Last year, River launched River Lightning, an enterprise API that enables companies to integrate with the Lightning Network. The API is already used by numerous crypto apps, including El Salvador’s Chivo wallet, to enable instant Bitcoin payments.
The funds raised will be used to build out the B2B River Lightning segment, as demand for Lightning transactions grows due to rising on-chain fees.
“We’re a mission-driven company with full-reserve Bitcoin custody, and we will continue to play our part in moving society towards a brighter economic future powered by Bitcoin,” Leishman concluded.