BCB Group raises a $60 million Series A round co-led by Foundation Capital

advertisement

BCB Group has announced a $60 million Series A investment co-led by Foundation Capital in what it claims is the largest Series A investment for a UK blockchain startup to date. The London-based startup provides business accounts, payment services, and foreign exchange custody services for crypto clients such as Bitstamp, Coinbase, and Kraken. 

Alongside another undisclosed co-lead investor, Circle, Backed VC, and existing backer North Island Ventures also participated in the round.

In addition to forging new US and Singapore partnerships, the startup will use the extra capital to build out its yield product. It will also target high net worth individuals with crypto wealth, many of whom founder and CEO Oliver von Landsberg-Sadie said are turned away from traditional private banking options.

Its planned acquisition of Germany’s Sutor Bank, financed through this Series A round, will aid in this mission, he added. The deal is subject to approval from BaFin, the German regulator. 

Whilst a forthcoming tech acquisition is in the pipeline, Landsberg-Sadie said that to achieve its full M&A ambitions, it would have to raise even more money. He confirmed that the company is already exploring another $300 million funding round. 

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

5 Steps to a Successful Crypto AML Program

As cryptocurrencies become increasingly mainstream, regulators, the media and policymakers are paying more attention to the financial crime risks associated with them. But what are the biggest compliance challenges crypto firms face, and what does a best practice AML program look like? 
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC

The TRON Ecosystem Thrives Amidst Market Chaos

TRON DAO has announced the launch of a $10 million incentive fund in light of recent events to support Terra developers migrating to the TRON ecosystem, including TRON’s EVM compatible cross-chain solution BitTorrent Chain (BTTC), which helps facilitate the seamless transfer of assets across mainstream public chains, including TRON, Ethereum, and BNB Chain. 
Read Full Story
Sponsored Post
More