7 August 2019
The Berlin-based crypto and blockchain fintech Bitwala, a leader in cryptocurrency, has secured 13 million euros in a series A financing round. The international law firm Taylor Wessing advised NKB Group and G1 as lead investors on all legal issues in connection with the Series A financing round. With the capital from the financing round the company intends to further expand its pioneering role in challenging banking services with respect to cryptocurrencies. Bitwala will use the funding to start offering Bitcoin accounts for businesses.
Alongside NKB Group and G1, the existing investors Earlybird and coparion, as well as new investor Global Brains participated in the financing round.
Bitwala offers the first account that combines a regular bank account, a bitcoin-wallet and the possibility to seamlessly trade crypto currencies. Due to the partnership with Berlin-based solarisBank, Bitwala customers can access all benefits of a German bank account.
UK-based NKB Group is presently building a portfolio of blockchain investments across Europe with a focus on new technologies that leverage the principles of traditional finance. G1 is an active venture investor with blockchain fintech among its primary investment areas.
Legal advisors NKB Group and G1:
Taylor Wessing: Dr. Norman Röchert (Partner, Corporate, Berlin), Stephan Meyer (Associate, Corporate, Berlin), Dr. Lea Maria Siering (Salary Partner, Regulatory, Berlin), Nico Jänicke (Salary Partner, Employment, Pensions & Mobility, Berlin), Paul Voigt (Partner, IP/IT, Berlin), Wiebke Reuter (Associate, IP/IT, Berlin)