OpenNode Closes $20M Series A Funding Round At $220M Valuation

OpenNode, an industry-leading bitcoin payment processor and infrastructure provider, has announced the completion of an oversubscribed $20 million Series A round at a $220 million valuation led by UK-based firm Kingsway, with additional investment from Twitter, Tim Draper, and Avon Ventures, a venture capital fund affiliated with Fidelity Investments’ parent company.

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,“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.”

The project’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 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 participate in this funding round and contribute to the growth of OpenNode and the Bitcoin network.”

The project is focused on building Bitcoin and Lightning Network payments infrastructure that will catalyze Bitcoin’s global adoption. It is ready to onboard every business, platform and person looking for secure, instantly settled payments that operate globally, 24/7.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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