{"id":11348,"date":"2022-02-09T17:00:00","date_gmt":"2022-02-09T17:00:00","guid":{"rendered":"http:\/\/ci029958655000278e"},"modified":"2022-02-09T17:00:00","modified_gmt":"2022-02-09T17:00:00","slug":"bitcoin-company-opennode-220-million-valuation","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/bitcoin-company-opennode-220-million-valuation","title":{"rendered":"Bitcoin Company OpenNode Raises $20M At $220M Valuation"},"content":{"rendered":"
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Bitcoin payments firm OpenNode closed an oversubscribed $20 million series A raise at a $220 million valuation, the company said in a press release sent to Bitcoin Magazine<\/em>.<\/p>\n

\u201cOpenNode has believed in the promise of Bitcoin and Lightning-powered payments for a long time, and demand is now growing exponentially,\u201d OpenNode\u2019s new head of strategy, Josh Held, said, per the release. \u201cFor 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.\u201d<\/p>\n

Held told Bitcoin Magazine<\/em> that the company plans on employing the round\u2019s proceeds to add new products and services to its suite of offerings, including a payment wallet, an account-linked debit card, new local currency settlement options, and sub-accounts.<\/p>\n

U.K.-based investment management firm Kingsway Capital led the investment round. Twitter, venture investor Tim Draper, and Fidelity Investments-affiliated venture capital fund Avon Ventures also participated in the round.<\/p>\n

\u201cBitcoin, complemented by the Lightning Network, is going to be the most important technology for financial inclusion,\u201d Kingsway Capital founder Manuel Stotz said, per the release. \u201cWe are very excited by OpenNode\u2019s deployment of the Lightning Network to make the promise of bitcoin as a global, censorship resistant and permissionless payment network a reality.\u201d<\/p>\n

According to the release, Draper said his enthusiasm for OpenNode\u2019s solutions stems from the empowerment of the retailer, who is relieved from having to pay hefty fees to banks or credit card companies \u2013 unavoidable in traditional payment methods.<\/p>\n

Ester Crawford, Twitter\u2019s group project manager, also commented on OpenNode\u2019s round, saying that the payment processor \u201cis creating easier pathways for anyone, anywhere to access the digital economy through their seamless integration of bitcoin payments.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The payment processor will invest the round\u2019s proceeds to expand its suite of bitcoin services.<\/p>\n","protected":false},"author":2572,"featured_media":6836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[93,589,228],"class_list":{"0":"post-11348","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-news","9":"tag-opennode","10":"tag-raise"},"author_data":{"id":2572,"name":"Namcios","nicename":"namcios","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/pfp-96x96.png"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/fiat-fundraise.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/11348","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2572"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=11348"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/11348\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/6836"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=11348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=11348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=11348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}