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OpenNode closes $20M Series A Funding Round at $220M valuation Led by Kingsway and including Twitter, Tim Draper, and more2 min read

February 8, 2022 2 min read

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OpenNode closes $20M Series A Funding Round at $220M valuation Led by Kingsway and including Twitter, Tim Draper, and more2 min read

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We are thrilled to announce the close of a $20M Series A funding round. With the close of this oversubscribed funding round, we will solidify our position as an industry-leading bitcoin payment processor and infrastructure provider for businesses, platforms, and people everywhere.

UK-based Kingsway led the round, which also included Twitter, Tim Draper, and Avon Ventures, a venture capital fund affiliated with the parent company of Fidelity Investments. With the support of an incredible group of investors and partners, OpenNode will continue to focus on building Bitcoin and Lightning Network payments infrastructure that will catalyze Bitcoin’s global adoption.

Josh Held, new Head of Strategy at OpenNode, said, “OpenNode has believed in the promise of Bitcoin and Lightning-powered payments for a long time, and demand is now growing exponentially. For the last two years, the team has been heads-down building solutions that support some of the largest brands and businesses in the world today. This Series A funding is the next step in helping the company to realize our mission of making bitcoin payments simple and accessible for everyone, everywhere”

Vocal Bitcoin supporter and renowned venture investor Tim Draper shares his enthusiasm for the OpenNode solution, saying “OpenNode allows the retailer to accept bitcoin without having to pay the banks or the credit card companies the 2-4%. OpenNode can do it with only a fraction of the energy cost required for an on-chain bitcoin transaction.”

OpenNode’s newest addition to the cap table was Twitter, where Ester Crawford, Group Product Manager, says, “Digital currencies encourage more people globally to participate in the economy, and with less friction. OpenNode is creating easier pathways for anyone, anywhere to access the digital economy through their seamless integration of bitcoin payments.”

Manuel Stotz, Founder of Kingsway Capital, the lead investor of OpenNode’s Series A, conveyed, “Bitcoin, complemented by the Lightning Network, is going to be the most important technology for financial inclusion. We are very excited by OpenNode’s deployment of the Lightning Network to make the promise of bitcoin as a global, censorship-resistant, and permissionless payment network a reality.”

Sachin Patodia, Managing Director at Fidelity Investments, said, “OpenNode provides businesses, platforms, and people the easiest onramp into the burgeoning digital economy, enabling seamless integration of bitcoin across the payment stack. We are proud to lead this funding round and contribute to the growth of OpenNode and the Bitcoin network.”

With this investment, OpenNode will be able to rapidly expand our services and grow our team. In the next few weeks and months, we’ll be announcing new product features, partnerships, and clients that will drive significant adoption of Bitcoin payments.

Are you interested in joining our team and helping to grow the global Bitcoin economy? Click here to see the new positions on our team! We’d love to hear from you and we’re excited to welcome new members to the team.