Led · Series A · Aug 2019

Bitwala is a Berlin-based crypto services startup founded in 2015 that positions itself as a bank for the blockchain economy. It offers crypto financial services and custody, and reports 150,000 customers across 32 countries. The company holds around €60 million in digital currencies for its clients. The fresh €15 million in funding will be used to grow the client base and launch new crypto services such as a recurring purchase feature. Bitwala recently partnered with Solaris Digital Assets (a Solarisbank subsidiary) to leverage Banking-as-a-Service capabilities including digital bank accounts, cards, KYC, and custody of digital assets. The company combines bank-like services with digital-asset custody to serve retail crypto customers. Bitwala offers a platform that combines a regular bank account, a Bitcoin wallet and seamless bitcoin trading with fast liquidity. Customers can buy and sell bitcoin online or via mobile with trades hosted by partner bank solarisBank. The company charges a 1% fee on every bitcoin trade. Its German bank account is available to customers in all 31 countries of the European Economic Area, with euro deposits protected up to €100,000 by the German deposit guarantee scheme. Accounts include a free debit Mastercard for contactless payments and free withdrawals at 40 million ATMs and POS worldwide. The team has grown to more than 40 employees. Bitwala plans to use new funding to attract customers, recruit talent and begin offering Bitcoin accounts for businesses. Bitwala is a Berlin-based blockchain banking startup building a product that lets users engage with cryptocurrencies through their bank account. The service, developed with a partner bank, will include debit cards and bitcoin wallets. The company raised €4m and intends to use the funds to further develop its product and expand adoption in Germany. Bitwala has a team of 23 and reached over 30,000 people on the waitlist for its all-new accounts. Those new accounts were scheduled to launch in November, according to the article. Bitwala is a Blockchain technology-based platform for international money transfers that does not require users to have a bank account. It offers a bitcoin debit card, ATM withdrawals and VISA payments, supports 11 different currencies, and provides business accounts for users with and without bank accounts. Launched in early 2015 and led by CEO Jörg von Minckwitz with co-founders Jan Goslicki and Benjamin Jones, the company is based in Berlin. Bitwala has surpassed €2M in transaction volume and collected over 2,000 customers across Africa, Asia and Europe. The company raised €800K in seed funding led by High-Tech-Gründerfonds with participation from Digital Currency Group. It intends to use the funds to develop the Bitwala app and expand globally.