Blockchain Founders Fund Invests in Bitwala's Mobile Wallet App

Published 2 months ago

The Blockchain Founders Fund (BFF) has invested in Bitwala’s Made-in-Germany Mobile Wallet App, an application that focuses solely on the management of Bitcoin and Ethereum.

The app, which charges a mere 1% transaction fee, is driving mainstream adoption of cryptocurrencies throughout Europe, with high concentrations of users in the Netherlands, France, and the Baltics. This strategic investment will allow Bitwala to expand its low-fee trading and debit card service through global partnerships.

Bitwala’s Resurgence

Bitwala, which suffered insolvency following the Celsius meltdown in 2022, has made a successful comeback. Rebranded from its former name, Nuri, the company was known for its impressive transaction record of over $3 billion and a 200,000-strong customer base.

The intellectual property of the previous Nuri banking business was taken over by CEO Dennis Daiber, co-founder Jan Goslicki, UK-based Claret Capital, and several angel investors. Following a relaunch in September 2023, Bitwala has now not only regained profitable growth but also positive brand recognition across 29 European countries.

A Vision for Mainstream Crypto Adoption

Bitwala’s resurgence is powered by its foundational strengths: the trading of Bitcoin and its seamless integration with traditional banking. “The core of Bitwala has always been centered around cryptocurrency transactions, particularly Bitcoin. Our customers are keen on straightforward options to buy, sell, and utilize BTC and ETH,” said Jan Goslicki.

The Blockchain Founders Fund’s investment in Bitwala is aligned with its commitment to making blockchain more mainstream and accessible. The partnership is poised to drive Bitwala’s vision further, to onboard Europe to a world of transactional freedom.

Enabling Personal Financial Freedom

Dennis Daiber, CEO of Bitwala, expressed gratitude for Blockchain Founder Fund’s strategic support and investment, stating that Bitcoin is a vehicle for personal financial freedom. The funding and alliance with Blockchain Founders Fund will enable Bitwala to expand further on- and off-ramps in Europe, making crypto transactions more globally accessible.