Bitcoin Lender Bitbond Nets €5 Million to Fund New Loans

Bitcoin peer-to-peer lending market Bitbond has secured €5m price of debt financing to fund loans on its platform.

The startup introduced right this moment that Obotritia Capital had dedicated the funds, in addition to buying a stake in Bitbond, though the phrases of that deal weren’t disclosed.

The funding represents the second time this yr Bitbond has attracted exterior capital. In February, the agency raised $1.2m from a gaggle of angel traders. That adopted €600ok raised in mid-May 2015.

Bitbond mentioned it plans to use the newest financing to additional develop its community, with an eye fixed to reaching small enterprise and impartial sellers.

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“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 mentioned in a press release.

Funding picture through Shutterstock

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