Breadwallet, a popular decentralized mobile bitcoin wallet and a venture funded startup, has today announced the close of a new funding round, bringing its total investment to $7 million USD. Coinciding with the round closure, the company has established its headquarters in Switzerland.
Breadwallet institutional investors include 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.
“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.”
“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 is the only Bitcoin wallet for iPhone and Android which connects directly to the Bitcoin network. The goal is to abstract away complexity from the user, enabling a simple, intuitive and safe Bitcoin mobile experience. Established in 2015, breadwallet currently operates in over 150 countries. Roughly one-third of its customers are based in North America.
“Japanese bitcoin users, in particular, are drawn to breadwallet’s simplicity and security that set it apart from its competitors,” commented investor Kaneto Kanemoto, CEO of OKWAVE, “Bitcoin activity in Japan has grown dramatically in the past 12 months, and we anticipate accelerating growth for both bitcoin and breadwallet around the world.”
This new round of funding will enable breadwallet 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. The company will also expand its business development and marketing efforts to increase brand awareness and market share across the globe.
(Press release)
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