OpenNode Closes $20m Series a Funding Round at $220m Valuation

On February 8th, OpenNode announced the end of their Series A funding round which was led by Kingsway Capital with additional investments from Twitter, Tim Draper, and Avon Ventures, a subsidiary of Fidelity Investments. Following the investment, OpenNode will focus on building Bitcoin and Lightning Network payments.

“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,” Josh Held, the new Head of Strategy at OpenNode said. 

Tim Draper, who has been vocal in support of Bitcoin, added “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 looks to rapidly expand services and grow their team. OpenSea teased new the announcement of new product features, partnerships, and clients that will drive the adoption of Bitcoin payments.