Bitwala, the service that conducts bank transfers in exchange for bitcoins, has announced that it has finally closed its first funding round on March 15th 2016 with €800k in seed funding. This marks a change as since the start in 2012 the Bitwala founding team had always been self-funded.. The team has collected over 10,000 customers and secured large volume transfers in Africa, Asia and Europe with all its companies. The Bitwala team is super excited to announce its first seed investment round.
Bitwala’s main goal has been to secure and maintain long-term partnerships. It believes that it has successfully built relationships with partners which include German VC investment firm HTGF (High-Tech-Gründerfonds). HTGF has around €500M under management and over 400 startup investments. It focuses on innovative disruptive ideas that are located in Germany. The team also has Barry Silbert and the Digital Currency Group on board in the funding round. As CEO and founder, Barry Silbert and the Digital Currency Group have funded over 50 investments across 17 countries.
Jörg von Minckwitz, CEO, commented: “Special thanks to my Co-founders Jan and Ben, it has been a pleasure to go through this with you guys and we could have never done it without you both.”