Bitbond, the Germany-based Bitcoin lending platform, has raised €600,000 in an angel funding round. Thus, with the successful funding, the total funding has gone up to €800,000 which it is going to use for providing accessible loans to small and medium-sized enterprises. Bitbond connects borrowers and lenders globally.
Run by Bitbond GmbH, a German private limited company, Bitbond is a global peer-to-peer Bitcoin lending platform that helps small businesses get access to affordable loans while lenders earn profitable interest rates. Bitbond works exclusively with the digital currency Bitcoin, the borrower and the lender don’t need a bank account to participate in the global loan market.
Nine Points Capital the Major Contributor
According to Bitbond, leading the round was Nine Points Capital. The company had invested earlier as well when Bitbond was seeking seed funding. Other participating angels included the Founders of Project A, Florian Heinemann and Uwe Horstmann; Affinitas Co-Founder and early investor in ResearchGate, Christian Vollmann; and Home24 Co-Founder, Felix Jahn.
At the occasion, Nine Points Capital partner, Christoph Janz, showed his happiness about the development and expected for better outcomes. Similar views were shared by Bitbond founder and CEO, Radoslav Albrecht who said that the additional resources will help the company to continue realizing the mission which is to make lending and borrowing globally accessible.
He further admitted that as the company has experienced investors supporting it on this exciting journey, there is not much worry. Nonetheless, the company that delivers higher returns than other fixed income products is helping in building a more stable and trustworthy financial system by distributing credit risk to more shoulders.
Excellent Financial Solution for Small Companies
Also, by matching maturities according to the golden rule of banking, the company helping clients get stable financial system. Since its founding in July of 2013, the Bitcoin lending platform has facilitated over 600 loans and signed up 10,000 users from 120 countries which definitely is one of the most remarkable achievements.
Nonetheless, Bitbond’s loan matching algorithm, AutoInvest, has won praise among the industry and was showcased at the annual Fintech conference, Finovate London, last year. A lot of market observers believe that if Bitbond can carve a niche for itself, the Bitcoin startup will be able to help solve the problem of financing for small businesses.
To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com