Breadwallet bitcoin wallet raises $7M in new funding, establishes headquarters in Switzerland

Friday, August 18, 2017 10:56 AM UTC

Breadwallet, a leading bitcoin wallet provider, has closed a new funding round in which it raised 7 million.

According to the official release, the funding round saw participation of DAS Capital, East Ventures, Globe Advisors, Liberty City Ventures, Maffin Inc., OKWAVE, and Saison Ventures, in addition to family offices, individual investors and other venture funds around the globe.

“We are investing in breadwallet due to its unique business model and forward thinking strategy,” said Shinji Kimura of DAS Capital. “We believe that digital currency will become increasingly influential as the industry continues its rapid expansion, and breadwallet is well-positioned to be a dominant leader in the space.”

Breadwallet said that the amount raised will enable it to expand its platform with significant upgrades and new features, offering a much improved user experience designed to bring a world of new users to bitcoin, and to drive customer acquisition in the substantial Android sector. It will also expand its business development and marketing efforts to increase brand awareness and market share across the globe.

In addition, Breadwallet announced that it has established its headquarters in Switzerland.

“Switzerland has emerged as a hotbed of digital currency startup activity, and we were attracted by its leadership in conservative financial legislation,” said Adam Traidman, CEO of breadwallet. “Its strong reputation for financial privacy for consumers is the ideal fit for our charter to empower individuals with the benefits of bitcoin.”

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