• Bitbond

  Led · Debt Financing · May 2017

  Founded in 2013 and based in Berlin, Bitbond is a blockchain SME lending marketplace that uses the bitcoin blockchain for payment processing. Individual and institutional investors fund loans to small business owners and online sellers via the platform, which applies a machine-learning credit check using merchants' revenue data and primarily finances inventory and working capital. Since launch the platform has originated over 1,700 loans totaling €1.4 million and attracted 90,000 registered users from 120 countries. In October 2016 Bitbond received a regulatory licence from German supervisor BaFin. With a new €5 million debt commitment and an undisclosed equity investment from Obotritia Capital, Bitbond plans to accelerate product development, marketing and grow its user base among online sellers and small businesses. The debt commitment is intended to enable instantaneous funding for European prime-borrower loans, reducing application-to-funding time to about 30 minutes. Bitbond is a Berlin-based peer-to-peer bitcoin lending platform that connects small businesses with lenders. Led by CEO Radoslav Albrecht, CTO Jarek Nowotka and CFO Moritz Cremer, the platform enables small businesses to access loans while lenders earn interest. Bitbond raised $1.2m in a round led by Şekip Can Gökalp with participation from Janis Zech, Andreas Bodczek and Alexander Graubner-Müller. The company has raised more than $2m to date and intends to use the new funds for business development and operations expansion. Operating metrics reported in the article include over 70k users, 1.600k loans funded and $1m in loan volume. The raise and metrics were reported by FinSMEs on 01/03/2017. Bitbond operates an online platform where small businesses list loan requests after a credit check and loans are funded by individual and institutional lenders who earn interest on Bitcoin. The company was launched in 2013 by CEO Radoslav Albrecht and is based in Berlin, Germany. To date the platform has processed over 600 loans and has 10,000 registered customers from more than 120 countries. Bitbond raised angel funding (a second close of €600K) as part of its early financing and has €800K in total funding. The company says it will use the funds to expand its customer base and to grow in emerging markets. Its core product combines peer-to-peer lending workflows with Bitcoin as the lending currency. Bitbond is a Berlin-based marketplace that matches borrowers and lenders for bitcoin peer-to-peer loans. The platform allows small businesses to obtain short-term and long-term bitcoin loans subject to creditworthiness, while lenders can earn interest by funding projects worldwide. Bitbond performs thorough borrower credit checks to help lenders assess risk and return profiles. The company was co-founded by Radoslav Albrecht and Robert Nasiadek. It plans to use newly raised funds to expand its user base and loan origination, and to grow its development team to improve the platform and add new features. The company raised €200K in a funding round led by Point Nine Capital.

No current team members are available.