A payments startup serving crypto firms, BVNK, closed a $40 million Series A round at a $340 million valuation. The round was led by Tiger Global.
It is with great excitement that we announce the closing of our Series A funding round — $40 million has been raised in a round led by Tiger Global Management.
Today marks a special day in our vision to create a seamless way to transact between fiat and crypto. https://t.co/Dq86gZU3WI
— BVNK (@BVNKFinance) May 12, 2022
The round also included The Raba Partnership, Avenir, Kingsway Capital, Nordstar, Concentric, Base Capital and unnamed angel investors.
Through BVNK’s API, partners’ clients can access transactions across hundreds of digital assets and fiat currencies. The company originally positioned itself as a Bitcoin exchange focused on emerging markets and remittances.
BVNK offers direct bank-account integrations to cut costs on card transactions.
The startup estimates that annualised payment volume exceeded $2 billion.
Earlier in April, fintech Bolt Financial agreed to acquire the blockchain payments startup Wyre Payments for about $1.5 billion.
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