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Bitcoin Lender Bitbond Nets €5 Million to Fund New Loans
Bitcoin peer-to-peer lending market Bitbond has secured €5m worth of debt financing to fund loans on the platform.
Bitcoin peer-to-peer lending market Bitbond has secured €5m worth of debt financing to fund loans on its platform.
The startup announced today that Obotritia Capital had committed the funds, as well as purchasing a stake in Bitbond, although the terms of that deal were not disclosed.
STORY CONTINUES BELOW
The investment represents the second time this year Bitbond has attracted outside capital. In February, the firm raised $1.2m from a group of angel investors. That followed €600k raised in mid-May 2015.
Bitbond said it plans to use the latest financing to further grow its network, with an eye to reaching small business and independent sellers.
"The debt commitment by Obotritia brings Bitbond to the next level in our efforts to provide universal SME financing. The next step is to work with partners," founder and CEO Radoslav Albrecht said in a statement.
Funding image via Shutterstock
Stan Higgins
A member of CoinDesk's full-time Editorial Staff since 2014, Stan has long been at the forefront of covering emerging developments in blockchain technology. Stan has previously contributed to financial websites, and is an avid reader of poetry. Stan currently owns a small amount (<$500) worth of BTC, ENG and XTZ (See: Editorial Policy).
