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§ Private Profile · Berlin, Germany
Cryptocurrency platform for users in Europe to buy, sell, and manage Bitcoin and other cryptocurrencies, bridging banking and DeFi.
Bitwala is a Berlin-based financial technology company that provides a cryptocurrency platform enabling users to buy, sell, and manage digital assets directly from their traditional bank accounts. Before undergoing a corporate restructuring and rebranding process, the company successfully scaled its operations to support a retail user base of over 70,000 individuals and maintained a workforce of more than 40 employees. The enterprise secured approximately €13 million in venture funding from prominent institutional backers, including Earlybird Venture Capital, High Tech Gründerfonds, and Digital Currency Group. Operating primarily across the European consumer market, the platform generates its revenue by charging transaction fees on cryptocurrency trades and standard fiat bank transfers. Bitwala was originally founded in 2015 by Jan Goslicki, Benjamin Jones, and Jörg von Minckwitz, before officially relaunching its core decentralized finance application in late 2023.
Bitwala has raised $40.0M across 5 funding rounds.
Bitwala has raised $40.0M in total across 5 funding rounds.
Bitwala is a Berlin-based fintech company that builds a mobile app enabling users to manage Bitcoin and Ethereum alongside fiat euros, bridging cryptocurrencies with everyday banking through a virtual IBAN account and Visa debit cards (virtual and physical) for seamless spending online, in-store, or at ATMs.[5][8] It serves crypto pragmatists—such as individuals living on crypto, freelancers earning in crypto, and businesses banking with crypto—by solving the problem of converting and spending digital assets like cash without intermediaries, offering instant euro deposits, 24/7 buy/sell at 1% fees, and global transfers.[5][8] Originally launched in 2014-2015 for fast, low-cost international money transfers using blockchain, it pivoted to a full crypto bank in 2018 amid regulations, filed for bankruptcy in 2022, and relaunched in late 2023 under new ownership with acquired IP, focusing on self-managed/escrow wallets and real-time crypto-fiat integration.[1][5]
Bitwala traces its roots to 2013-2014, when founders Jörg von Minckwitz, Jan Goslicki, and Benjamin P. Jones—veteran Bitcoin enthusiasts who had bootstrapped ventures like All4btc.com, Gold4btc, E4btc, and Germany's first Bitcoin incubator Bitcoins Berlin—identified the gap between Bitcoin's potential and everyday use.[2][3][4] Starting as Safaru B.V. in 2014, they offered prepaid Visa cards and Bitcoin-to-fiat transfers (SEPA/SWIFT) to over 120 countries, processing €75 million for 78,000 users by 2017, with early traction from remittances, bill payments, and cash-outs amid rising Bitcoin adoption.[1][3][4] Pivotal shifts included a 2018 regulatory pivot to partner with solarisBank AG for licensed banking, an €800k seed round from HTGF in 2015-2016 for app expansion, and resilience through a 2022 bankruptcy liquidation, followed by a 2023 relaunch by the original founders with investor backing to reclaim the brand and software.[1][3][5]
Bitwala rides the wave of crypto mainstreaming and "living on crypto," capitalizing on blockchain's borderless efficiency amid slow, costly legacy banking for cross-border payments and remittances.[1][2][3] Its timing aligns with post-2022 crypto winter recovery, regulatory maturation in Europe (e.g., EU blockchain projects), and rising demand for hybrid fiat-crypto tools as Bitcoin/Ethereum stabilize for daily finance.[1][5] Market forces like freelancer gig economies, DeFi growth, and instant payment rails (e.g., SEPA Instant) favor its model, while it influences the ecosystem by democratizing crypto banking for non-banked users in Africa/Asia/Europe and paving infrastructure for business crypto adoption.[1][3][8]
Bitwala's relaunch positions it for growth in a maturing crypto payments market, potentially expanding to more assets (beyond BTC/ETH/USDC), physical card rollouts, and business features amid trends like embedded finance and CBDC pilots.[5][8] Regulatory tailwinds in the EU and global remittance volumes ($800B+ annually) could accelerate adoption, evolving its influence from niche Bitcoin transfers to a standard "crypto bank account" for everyday users. As crypto pragmatism grows, Bitwala stands ready to empower financial autonomy, bridging the gap it first targeted over a decade ago.[1][4]
Bitwala has raised $40.0M in total across 5 funding rounds.
Bitwala's investors include Blockchain Founders Fund, Tekin Salimi, Earlybird, coparion, Global Brain, NKB Group, Sony Financial Ventures, Alstin Capital, Digital Currency Group, Christian Nagel, High-Tech Grunderfonds, Chiara Sommer.
Bitwala has raised $40.0M across 5 funding rounds. Most recently, it raised $2.0M Series U in February 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 1, 2024 | $2M Series U | — | Blockchain Founders Fund, Tekin Salimi | Announced |
| Nov 30, 2020 | $17.9M Venture Round | Earlybird | Coparion, Global Brain | Announced |
| Aug 25, 2019 | $14.4M Series A | NKB Group, Sony Financial Ventures | Coparion, Earlybird | Announced |
| Sep 25, 2018 | $4.7M Venture Round | — | Alstin Capital, Coparion, Digital Currency Group, Christian Nagel, High Tech Grunderfonds | Announced |
| Apr 5, 2016 | $910K Seed | Chiara Sommer | Digital Currency Group | Announced |