Bitbond, a bitcoin lending platform, has closed an equity funding round of $1.2 million that was led by Şekip Can Gökalp, founder of Turkey-based mobile ad network – mobilike, along with various business angels.

This new funding brings Bitbond’s total equity capital to $2.3 million. Other angels involved in the recent funding include Fyber founders Janis Zech and Andreas Bodczek as well as Kreditech co-founder & CEO Alexander Graubner-Müller, among others.

According to the company, the funding will be used for further product development and expansion, growth of its customer base in markets that are underserved by traditional lenders and mainly to grow its SME lending.

“The additional resources will help us to continue realizing our mission which is to make lending and borrowing globally accessible. We are happy to have such experienced investors supporting us on this exciting journey,” Radoslav Albrecht, founder, and CEO of Bitbond, stated in a statement.

Last October, Berlin-based Bitbond became the first blockchain-based financial services provider to be licensed by German financial regulator BaFin. This license makes Bitbond to acting independently of banks, as well as geographically autonomous.