Crypto Payments Service Provider BCB Group Raises $60M Series A

BCB Group, a crypto-dedicated payments services provider, has closed a $60 million Series A funding round.

• The round was co-led by Foundation Capital with participation from BACKED VC, PayU (the e-payments business of Prosus), Digital Currency Group, Nexo, Wintermute, Menai Financial Group, Circle, Tokentus Investment, Cowa, Profluent Ventures and LAUNCHub Ventures.
• Previous investors North Island Ventures, Blockchain.com Ventures, Rockaway Blockchain Fund, Pantera and L1 Digital also participated in the round.
• The new financing will be used to accelerate BCB Group’s offerings of payments and banking services, the company said in a statement on Tuesday.
• In March 2021, BCB Group had raised $4.5 million in strategic funding to snag more regulatory licenses. The round was co-led by North Island Ventures and Blockchain.com Ventures.
• The firm acquired fintech-focused Sutor Bank in December, gaining control of a German bank to drive the group’s expansion in the European Union.
• CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Read more:BCB Group Expands in Europe With Acquisition of 100-Year-Old German Bank