Breadwallet has nabbed $7m in its latest funding round to help establish its Switzerland headquarters.
Backers to the round included DAS Capital, East Ventures, Globe Advisors, Liberty City Ventures, Maffin Inc., OKWAVE, and Saison Ventures. Also taking part in the investment were family offices, individual investors and venture funds.
Breadwallet is a bitcoin wallet which simplifies the system, with the ability to send and receive funds from just one button. There is no sign-ups, logins, or personal information, instead all is needed is a recovery phrase.
The latest capital injection will help breadwallet to expand its platform, including new features, with the aim to bring new users to bitcoin and driving customer acquisition in the Android sector. Funding will also be used to scale business development and marketing efforts to help boost international recognition.
Breadwallet CEO Adam Traidman said, “Switzerland has emerged as a hotbed of digital currency startup activity, and we were attracted by its leadership in conservative financial legislation. Its strong reputation for financial privacy for consumers is the ideal fit for our charter to empower individuals with the benefits of bitcoin.”
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