Dutch Bitcoin Payments Provider Bitwala Raises €800,000 for SEPA Bitcoin Transfers

Rage Review : The goal of Bitwala, a Dutch Bitcoin payment provider, is not only to raise a large amount of funds, but also to find partners and ways of cooperation to promote the development of Bitwala. Moreover, as a payment provider, Bitwala can use Bitcoin to pay in the single euro payment area, including credit card bills, utility bills, insurance and rent.

Translation: Nicole

Bitwala has raised €800,000 (about $910,000) to expand its bitcoin online payment service, increase its customer base and scale its operations team.

Investors include KfW Banking Group and Digital Currency Group

In a blog post, the startup said it was trying to minimize the impact of the new capital and was committed to customer service.

Bitwala's Andrea Hesler wrote:

“Our goal is not just to raise more funds, but also to see how we work with our partners. Raising a lot of funds has never been the biggest goal of the Bitwala team.”

When it was founded in 2012, the startup allowed users to pay with bitcoin in the Single Euro Payments Area. First, users had to download a bitcoin wallet.

The announcement comes after the platform for small merchants and freelancers was launched in March.

The site has been praised by industry observers Erik Voorhees and Jon Matonis, who also noted that it could be used in online payment applications. The company's website states that use cases include credit card bills, utility bills, insurance and rent.