Crypto paytech BCB Group lands UK blockchain industry’s largest Series A with $60m raise
Crypto payments service provider BCB Group has landed the UK blockchain industry’s largest ever Series A funding round, worth $60 million (£45 million).
The funding round was led by Foundation Capital with participation from BACKED VC, PayU, Digital Currency Group, Nexo, Wintermute, Menai Financial Group, Circle, Tokentus Investment, Cowa, Profluent Ventures and LAUNCHub Ventures.
Existing investors North Island Ventures, Blockchain.com Ventures, Rockaway Blockchain Fund, Pantera and L1 Digital also participated in the round.
BCB Group provides business accounts, cryptocurrency and foreign exchange market liquidity and custody for financial institutions plugged into the cryptosphere.
Its clients access an end-to-end suite of payment processing, cryptocurrency trading and custody services accessible through its unified API-enabled platform.
BCB intends to use the cash to expand its payments and market infrastructure across more regions and to acquire stakes in critical infrastructure partners.
BCB Group founder and CEO Oliver von Landsberg-Sadie says the cash injection will accelerate the firm’s mission “to connect and bank the global crypto industry” and build “bigger, better, deeper” infrastructure critical to the growth of the space.
BCB claims to have processed nearly $100 billion worth of payments in just over five years of business.