Bitcoin financial app River Financial nets $12m in its Series A

River Financial, which enables individuals to invest and use bitcoins, has bagged $12m in its Series A round.

The investment was led by Goldcrest Capital, with commitments also coming from Craft Ventures, Polychain Capital, M13, Castle Island, Slow Ventures and The Kraft Group.

River provides consumers with a mobile app to manage their bitcoin investments, with the ability to buy, sell, track and spend the digital currency.

Users can also schedule recurring orders to buy bitcoin, track the performance of investments and easily withdraw or deposit into the bitcoin account.

River Financial co-founder and COO Andrew Benson said, “River’s mission is to bring Bitcoin to investors around the world. Even as global interest in Bitcoin grows rapidly, most Americans over the age of 45 who want Bitcoin still don’t own any. River is helping to fix that by creating familiar, high-end financial solutions for investors who are new to Bitcoin.”

Previously, the FinTech netted $5.7m in its seed round in June 2020 and since then it has grown its client base by almost 600%. Furthermore, order volumes have increased by 3,500%, it claims.

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