Sony Financial Ventures, a fund managed by consumer electronics producer Sony and venture capital firm Global Brain, co-led a €13m ($14.3m) series A round for Germany-based cryptocurrency banking platform Bitwala on Wednesday.
The round was co-led by blockchain-focused investment bank NKB Group and also featured VC firm Earlybird Venture Capital and VC fund Coparion.
Bitwala has developed a blockchain-powered banking platform that allows users to trade, store and spend bitcoin directly through one account.
The company provides a built-in bitcoin wallet to store the currency, as well as a debit card to spend it online and in stores. It said it plans to spend the money on expand its 40-strong team.
High-Tech-Gruenderfonds led a $900,000 seed round for Bitwala in April 2016, investing alongside cryptocurrency investment firm Digital Currency Group. The company had secured $4.4m from Earlybird and Coparion in September 2018.