River Financial is a client-first financial institution that operates in CeFi(Centralized Finance) and dedicated to providing financial products and services that enable clients to harness transformative possibilities of Bitcoin. The firm offers a wide range of Bitcoin-related services for businesses and individuals. The services offered include a brokerage that offers zero-fee dollar-cost averaging, mining, full-reserve custody and a wallet that supports both on-chain transactions as well as transactions on the Lightning Network. Lightning Network is basically a Bitcoin scaling solution that settles transactions off-chain for faster speeds and lower fees.
River Financial has recently raised $35 million in a series B funding round that was led by investment firm Kingsway Capital. The financing round was also backed by billionaire investor Peter Thiel and other venture capitals including Cygni Capital, Goldcrest Capital and Valor Equity Partnerships. With the new capital at hand, River is planning to facilitate grass root infrastructure development and security.
The firm is on a mission to build a transparent and robust financial ecosystem using Bitcoin. According to the firms announcement, they intend to build a world-class Bitcoin company that prioritizes security, grass root infrastructure development and the clients.
According to Alex Leishman, CEO at River Financial, the firm is seeing a new wave of Bitcoin interest that is largely driven by businesses and institutional adoption. The CEO also noted that this new wave has nothing to do with the hype that Bitcoin receives in bull markets. Leishman further added that bank failures and deposit runs were a wake up call to investors as they revealed the shortcomings of traditional finance and therefore, reminding people of Bitcoins Value. He further said that Bitcoin is the secure path to a stronger and more secure global economy therefore, making the adoption of Bitcoin with a trusted partner prudent rather than a speculative choice.
River Finance has been active in the sector, as in 2022 the firm launched The River Lightning – an enterprise API(Application Programming Interface) that enables corporates seamlessly integrate the Lightning Network. This API provides utility to many crypto applications as it offers instant BTC(Bitcoin) settlements. The firm has plans to utilize the new capital to build its B2B River Lightning segment. It also plans to become the Bitcoin payments back-end for the crypto industry.
River Financial is enabling users to mine their own Bitcoin wealth while offering unparalleled service and functionality that includes tax optimization, excellent customer support services, ability to buy Bitcoin on iphone, instant buy volume, ease in setting up entity accounts, security as well as compliance to and licensing from regulators.
