Osborne Clarke has advised venture capital investor Earlybird on its investment in the Bitwala GmbH. Earlybird, in cooperation with coparion, will invest four million euro in the Berlin-based FinTech. Bitwala plans to expand its product portfolio with the investment.
Headquartered in Berlin, Bitwala is a global blockchain-focused payment service provider. The company’s “Bitwala-Account” will effectively act as a crypto-wallet, providing every function of a regular current account such as SEPA-transfers, standing orders, cash withdrawals and payments via debit cards. Additionally the legal deposit insurance functions to an amount up to 100.000 Euro.
The Osborne Clarke team advising Earlybird on this investment was led by Till-Manuel Saur. The team also included Nicolas Gabrysch, Sophie Hoffmann (both corporate, VC), Tanja Aschenbeck, Thorge Drefke, Jan-Michael Polke (all financial supervision law), Tim Reinhard and Konstantin Sitte (both IP law), Peter Schneidereit (data protection law) as well as Herke van Hulst and Niels Dolk (both corporate, VC, Amsterdam).