BRD, the Switzerland-based cryptocurrency trading platform backed by crowdsourced information provider OKWave and payment services firm Credit Saison, has secured $32m in equity funding and a token sale.
Venture capital firm East Ventures was among the participants in the equity portion of the round, and the company has now raised $40m in total, it said.
Formerly known as Breadwallet, BRD has created a mobile wallet available as an app that allows users to trade and store cryptocurrencies and tokens. It has more than 2 million registered users and processes more than 15,000 transactions each week.
The financing will be invested in enhancing BRD’s core technology platform, which has just been upgraded through an update called Augustus, as well as hiring engineering and business development staff and opening two offices in the US and one in Japan.
OKWave and Saison Ventures, Credit Saison’s strategic investment arm, both participated in the company’s last round in August 2017, when it raised $7m.
The August round also featured East Ventures, investment fund DAS Capital, Globe Advisors, which functions as a subsidiary of non-profit organisation Globe Group, VC fund Liberty City Ventures, Maffin and unnamed family offices, VC funds and private investors.