Peter Thiel Backs Bitcoin Startup River in $35M Round

Brandy covers crypto-related venture capital deals for CoinDesk.

Bitcoin technology and financial services company River has raised $35 million in a Series B round led by investment firm Kingsway Capital, with participation from billionaire investor Peter Thiel.

River offers a wide range of bitcoin-related services for individuals and businesses, including a brokerage that offers zero-fee dollar-cost averaging, mining, full-reserve custody, and a wallet that supports both on-chain transactions and transactions on the Lightning Network – a bitcoin scaling solution that settles transactions off-chain for faster speeds and lower fees. Last October, the company launched River Lightning, an application programming interface (API) that makes it easier for companies to connect their applications to the Lightning Network.

“These bank failures and bailouts have been a reminder of why Bitcoin is so important,” said River CEO Alex Leishman in a press release. “It’s a secure path to a fairer, more equal, and transparent global economy,” he added. “As a result,” he continued, “River’s goal is to provide the most seamless on-ramp to invest in bitcoin for the everyday person as they search for an alternative to the current system. This funding round demonstrates our commitment to championing an honest and robust financial environment through the use of bitcoin—the world’s only incorruptible digital currency.”

Other investors in this new funding included Cygni, Goldcrest, and Valor Equity Partners. River last raised $12 million in a Series A round in 2021.

Edited by Stephen Alpher.


Please note that our

privacy policy,

terms of use,



do not sell my personal information

has been updated


The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a

strict set of editorial policies.

CoinDesk is an independent operating subsidiary of

Digital Currency Group,

which invests in


and blockchain


As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of

stock appreciation rights,

which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG


Brandy covers crypto-related venture capital deals for CoinDesk.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Brandy covers crypto-related venture capital deals for CoinDesk.

Source Article