Breadwallet has closed a funding totaling $7 million and established its headquarters in Switzerland. According to Adam Traidman, CEO of Breadwallet, Switzerland is a perfect fit for Breadwallet due to its conservative financial legislation and its reputation for financial privacy for its consumers. Breadwallet investors include DAS Capital, East Ventures, Globe Advisors, Liberty City Ventures, Maffin Inc. OKWAVE and Saison Ventures. Shinji Kimura of DAS Capital said that they were investing in Breadwallet due to its unique business model, forward thinking strategy and as the industry is rapidly expanding, pioneer company such as Breadwallet is bound to be the industry leader.
Operating in over 150 countries and established in 2015, almost a third of Breadwallet customers are based in North America. Breadwallet aims to expand its platform with upgrades, add new features, improve user experience for Bitcoin users and drive customer acquisition in the Android platform from the new funding. Business development and marketing also falls under its priority to utilize the new funding.
According to Kaneto Kanemoto, CEO of OKWAVE, Japanese bitcoin users are especially attracted to Breadwallet’s simplicity and security features and as bitcoin activity in Japan has increased drastically over the past 12 months both Bitcoin and Breadwallet are bound to experience accelerating growth.
Previously located in Palo Alto, California, United States, Breadwallet has recently relocated its headquarters to Switzerland. Breadwallet develops and designs bitcoin wallet applications. Breadwallet is known for its security and its simplicity. There are no sign ups, logins or any other personal information and keeps the funds safe even when the customer loses the phone.