# River Financial

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/river-financial

- Industry: Financial Services
- Headquarters: San Francisco, US
- Website: https://river.com/
- Total disclosed funding: $58M
- Latest round: Series B (May 16, 2023)
- Investors on record: 16

## About

River Financial Inc., based in the US, provides a suite of Bitcoin services targeting individual investors and businesses, facilitating easy cryptocurrency engagement with innovative features.Founded in 2019 and headquartered in San Francisco, US, River Financial Inc. focuses on Bitcoin services. The company was co-founded by Alexander Leishman and Andrew Benson. River has completed 3 funding deals, with the latest being a Series B round on May 16, 2023, raising USD 35.00 mn led by Kingsway Capital, along with several other investors. The total amount raised to date is USD 35.00 mn, with a current company valuation of USD 392.616 mn.River Financial Inc. specializes in providing a comprehensive suite of Bitcoin-related services, primarily aimed at individual investors and businesses looking to engage in cryptocurrency. The company offers key products including a zero-fee recurring buy feature, a user-friendly Bitcoin wallet, and a unique Bitcoin interest program, which allows clients to earn 3.8% interest on cash held in Bitcoin. Their platform is designed to simplify the process of buying, managing, and utilizing Bitcoin, addressing concerns related to transaction fees and custody. River's client base consists of U.S.-based individual investors, high-net-worth clients, and businesses seeking to enhance their balance sheets through Bitcoin investments. The services are available primarily in the United States, where the demand for secure and reliable cryptocurrency transactions has been steadily growing.River Financial Inc. generates revenue through its innovative transaction structure that focuses on direct-to-consumer sales within the cryptocurrency market. Clients can engage in transactions by utilizing the platform's zero-fee recurring buys, enabling them to purchase Bitcoin at regular intervals without incurring additional costs. The company also caters to high-net-worth clients through specialized private client services, where transactions may exceed USD 100,000. River’s interest-bearing accounts for cash held in Bitcoin provide an additional revenue stream by incentivizing clients to maintain funds within their ecosystem. By offering these flagship services, River positions itself as a trusted partner in the cryptocurrency space, appealing to both individual and business customers keen on leveraging Bitcoin as an investment asset.In May 2023, River Financial Inc. raised USD 35.00 mn in Series B funding, led by Kingsway Capital, to enhance their growth. The company plans to utilize this funding to hire new employees and scale its product offerings and marketing initiatives. Future products are being designed to further simplify Bitcoin transactions and enhance user experience. River also aims to expand its reach into new markets, with specific targets for growth in additional U.S. states and potential international markets by the end of 2024.

## Funding rounds

- Series B, May 16, 2023, $35M — Valor Equity Partners, Goldcrest Capital, M13, Kingsway Capital, Cygni Capital, Esas Holdings, Alarko Ventures
- Series A, Jan 28, 2021, $17M — Goldcrest Capital, Kraft Group, M13, Polychain Capital, Craft Ventures, Castle Island Ventures
- Seed, Jun 17, 2020, $5.7M — Slow, Polychain Capital, DG Daiwa Ventures, Castle Island Ventures, IDEO CoLab Ventures, Cygni Investments Inc., Pfeffer Capital Ltd

## Investors

- Slow (https://capitalatlas.ai/funds/slow) — Seed
- Polychain Capital (https://capitalatlas.ai/funds/polychain-capital) — Seed, Series A
- DG Daiwa Ventures (https://capitalatlas.ai/funds/dg-daiwa-ventures) — Seed
- Castle Island Ventures (https://capitalatlas.ai/funds/castle-island-ventures) — Seed, Series A
- IDEO CoLab Ventures (https://capitalatlas.ai/funds/ideo-colab-ventures) — Seed
- Cygni Investments Inc. — Seed
- Pfeffer Capital Ltd — Seed
- Goldcrest Capital (https://capitalatlas.ai/funds/goldcrest-capital) — Series A, Series B
- Kraft Group — Series A
- M13 (https://capitalatlas.ai/funds/m13) — Series A, Series B
- Craft Ventures (https://capitalatlas.ai/funds/craft-ventures) — Series A
- Valor Equity Partners (https://capitalatlas.ai/funds/valor-equity-partners) — Series B
- Kingsway Capital (https://capitalatlas.ai/funds/kingsway-capital) — Series B
- Cygni Capital (https://capitalatlas.ai/funds/cygni-capital) — Series B
- Esas Holdings (https://capitalatlas.ai/funds/esas-holdings) — Series B
- Alarko Ventures (https://capitalatlas.ai/funds/alarko-ventures) — Series B