BRD raises $15 million to drive expansion of its bitcoin and crypto wallet
BRD, a bitcoin and cryptocurrency mobile wallet, formerly known as Bread, announced today the team has raised $15 million in a Series B financing round to accelerate international expansion and to scale its technology platform.
The funds came from SBI Crypto Investment, a wholly owned subsidiary of SBI Holdings, based in Tokyo, Japan.
In addition, BRD announced the availability of cryptocurrency purchases using SEPA transfers for the European market through a partnership with Coinify.
“The new funds will enable BRD to scale its product and engineering teams to meet with the growing demands of consumers in Japan and across Asia. “SBI Group’s investment in BRD allows us to firmly cement ourselves in the Asian market. It shows incredible support for the foundation that we have built in North America and reinforces our proven ability to scale the success we have achieved in the past 4 years. The new investment will ensure our long-term global growth, and we are incredibly excited about collaborating with SBI as a strategic investor and business partner to make that happen.”
“The SBI Group has been enhancing investments and partnerships with blockchain-related companies across the world. The partnership with BRD would accelerate our development of financial services utilizing blockchain / DLT, leading to fintech services that are highly beneficial and efficient for our customers.”
In 2018, BRD reported a record year in new user growth and popularity of its mobile apps:
- 116% YoY growth of total installed base; now over 1.8 million users globally
- Q4 2018 was a record for new user growth; nearly 400,000 new users in Q4
- Top 10 finance app in 71 countries
The BRD app is available for download from the App Store or Google Play.
