Amidst a bear market for Bitcoin, River, a US-based Bitcoin technology and financial services company, has successfully raised $35 million in a Series B equity funding round. Leading the round is Kingsway Capital, with notable participation from prominent investors such as Peter Thiel, co-founder of PayPal, Cygni, Goldcrest, and Valor Equity Partners.
According to River CEO Alex Leishman, this funding round reflects a “new wave of Bitcoin interest” primarily driven by business and institutional adoption rather than speculative hype. Leishman emphasized the importance of Bitcoin as a secure and transparent pathway to a stronger global economy, especially in light of recent bank failures and bailouts that have exposed vulnerabilities in the traditional financial system.
As one of the largest managers of a Bitcoin Lightning node, River plays a crucial role in facilitating payments and managing liquidity within the Bitcoin Lightning Network. The company’s Lightning API allows seamless integration with the Lightning Network, with El Salvador’s Chivo Wallet already utilizing River’s services for near-instant and low-cost Bitcoin payments.
River has been an early adopter of the Lightning Network, following the footsteps of global crypto exchanges like Bitfinex and Kraken. Additionally, major exchanges such as Coinbase and Binance are showing interest in adopting the Lightning Network to leverage its advantages of low fees and high transaction throughput.
Despite the challenging market conditions, River’s successful funding round adds to the growing list of Bitcoin companies securing investments. This includes custody service provider Unchained Capital, which recently raised $60 million, and El Salvador’s educational initiatives that garnered substantial support from Bitcoin proponents worldwide.
