Crypto wallet BRD raises $15 million for expansion, partners with Coinify

25 Jan, 2019 | Updated: 25 Jan, 2019
by David Robb
News
Crypto wallet BRD raises $15 million for expansion, partners with Coinify

BRD, the provider of one of the most popular mobile cryptocurrency wallets, has recently secured $15 million in Series B funding to further expand its services. The company will also be partnering with Coinify to provide SEPA transfers to the European market.

Founded in 2015 and currently headquartered in Switzerland, BRD provides a BTC wallet with an industry-leading security and privacy model. It is a top 10 mobile app in the Finance category in 71 different countries, and has around 1.8 million users worldwide after seeing 116% year-on-year growth in 2018.

Read more: Will Bitcoin recover in 2019?; 2018: A Bitcoin and cryptocurrency year in review

According to a press release, the company's Series B funding round saw $15 million raised from Tokyo-based SBI Crypto Investment, which will be used to scale the BRD platform and expand globally.

"SBI Group’s investment in BRD allows us to firmly cement ourselves in the Asian market," said Adam Traidman, CEO and Co-founder of BRD. "It shows incredible support for the foundation that we have built in North America and reinforces our proven ability to scale the success we have achieved in the past 4 years. The new investment will ensure our long-term global growth."

BRD has also teamed up with Coinify, one of the leading providers of crypto payment processing. The partnership will offer BRD's European customers the opportunity to purchase Bitcoin (BTC) securely and at a low cost, using SEPA transfers.

"BRD has blazed the trail as a decentralised financial platform and we are excited to be the selected partner for their European launch," said Rikke Stær, Chief Commercial Officer of Coinify. "They have been one of the pioneers of the virtual currency industry, and it is a pleasure to be chosen to power their SEPA trades."

Read more: Will Bitcoin replace fiat money?

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Read more about: Bitcoin (BTC)

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