US-headquartered, Bitcoin-focused financial services provider River Financial completed a $12m series A round yesterday that included diversified holding group Kraft Group.
Venture capital fund Goldcrest Capital led the round, which also featured Craft Ventures, Polychain Capital, M13, Castle Island Ventures and Slow Ventures.
River’s lead product is a secure brokerage service for the Bitcoin cryptocurrency aimed at older users who may otherwise find the process of investing in it too complex. The company intends to put capital into product development and increasing headcount.
The startup had previously received $5.7m in seed capital from investors including Ideo CoLab Ventures, a vehicle for design agency Ideo, and DG Lab Fund, which was formed by corporates Digital Garage, Kakaku, Credit Saison and KDDI, in June 2020.
Polychain Capital, Slow Ventures, Castle Island Ventures, Cygni, Pfeffer Capital and individual investors including Steve Lee also contributed to River’s seed funding.
