River raises $35 million to further build out enterprise API for Lightning Network
“We’re seeing another wave of Bitcoin interest, largely driven by business and institutional adoption. It’s not fueled by hype.”
River has raised $35 million in a series B funding round led by Kingsway Capital, with participation from Peter Thiel, Goldcrest, Cygni, M13, Valor Equity Partners, Esas Ventures, and Alarko Ventures.
The funding will feed River’s mission to champion a robust financial system through the use of Bitcoin, “the world’s only incorruptible digital money”, as they put it. Part of the funding will be used to focus on the B2B River Lightning segment.
A one-stop-shop for any person or business interested in Bitcoin, River offers a suite of Bitcoin services, including Bitcoin brokerage with zero-fee recurring orders, full-reserve custody, mining, and a Bitcoin wallet that supports both on-chain and Lightning Network transactions.
“We’re seeing another wave of Bitcoin interest”
Alex Leishman, Chief Executive Officer at River, said: “We’re seeing another wave of Bitcoin interest, largely driven by business and institutional adoption. It’s not fueled by hype. This year’s bank failures and bailouts have been a wake-up call, revealing the cracks of the traditional financial system and reminding us why Bitcoin is so important—it’s a secure path to a stronger and more transparent global economy. Adopting Bitcoin with a trusted partner is no longer the speculative choice, but rather the prudent one.
“River has become the premier Bitcoin brand in the United States. We have deep Bitcoin expertise, focus, and frankly, we do things right. Unlike many crypto companies and regional banks for that matter, we have not taken shortcuts or reckless risks with our regulatory strategy and product offering. We’re a mission-driven company with full-reserve Bitcoin custody, and will continue to play our part in moving society towards a brighter economic future powered by Bitcoin.”
River launched enterprise API: River Lightning
Last year, River announced the launch of River Lightning—an enterprise API that allows companies to easily integrate with the Lightning Network. The API is already utilized by a number of crypto apps, including El Salvador’s Chivo wallet, to enable instant Bitcoin payments.
The firm states that demand for Lightning transactions has grown rapidly in the last year and has accelerated to new levels in recent weeks by rising on-chain fees.
In addition to serving individuals and businesses directly, River intends to serve as the Bitcoin payments back-end for the industry. Part of this funding round will be used to further build out the B2B River Lightning segment.
