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Bitcoin-based P2P Lending Platform Bitbond Raises $670,000

BitbondBrowseloans

Global bitcoin-lending platform Bitbond today announced receipt of $670,000 (€600,000) in an angel funding round. Combined with its $220,000 (€200,000) seed round in August 2014, the startup’s funding now totals just under $900,000.

Early investor, Point Nine Capital, led the round, and a host of angel investors also contributed. Business angels include:

  • Florian Heinemann
  • Uwe Horstmann
  • Christian Vollmann
  • Felix Jahn

The Berlin-based company counts 10,000+ registered users from 120 countries. Bitbond’s goals for the new funding are to grow its user base and increase activity in emerging markets underserved by traditional lenders.

Since launching to the public in July 2013, Bitbond has originated more than 600 loans through its platform.

Bitbond’s mission is to make global borrowing and lending more accessible, and it does that by using bitcoin to create a global market for small business loans.

You can find an in-depth look at Bitbond’s platform in our Finovate Debuts series.

At FinovateEurope 2015 in London, Bitbond debuted its Autoinvest feature that uses an algorithm to allocate lenders’ funds automatically and according to their preferences.