Altcoin News: Sony Co-Leads the $14,5 Million Raise for Crypto Bank Bitwala

July 31, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

German financial company Bitwala has closed a round of attracting investment series A at around € 13 million (around $14,5 million), writes CoinDesk.

Bitwala claims that this is the largest sale of equity among blockchain startups in Germany.

Investraund headed Sony Financial Ventures and NKB Group. Also, it was attended by the current investors of the project in the face of Earlybird and competitors.

Bitwala intends to use the received funding to expand its client base, hire employees and open Bitcoin accounts for the business.

German financial company provides a crypto-banking service with a built-in bitcoin wallet, debit card, and trading opportunity. The company serves retail customers in all countries of the European Economic Area and has carried out transactions for exchanging bitcoins for €11 million ($12,25 million) since the launch of the corresponding option in late 2018.

Last October, Bitwala announced the launch of a “banking blockchain account” service in partnership with solarisBank.

In the same month, Sony introduced its contactless multi-purpose hardware crypto wallet.

Author: Marko Vidrih