Based in London, crypto-processing BCB Group has attracted $4.5 million from several major investors. The funds will be used to expand the startup’s range of services.
NEWS: Today we’re thrilled to announce that we have closed a strategic funding round co-led by @NorthIslandVC and @blockchain Ventures, with participation from @PanteraCapital, L1 Digital and Pack Capital
Find out more: https://t.co/DavpRwZdDD pic.twitter.com/c5qlGvVDIv
— BCB Group (@BCBcrypto) March 2, 2021
The funding round was led by investment firm North Island Ventures and the wallet provider Blockchain.com. Pantera Capital, L1 Digital and Pack Capital also participated.
“We want to obtain more regulatory licenses in the United Kingdom, the European Union and Switzerland. This is expensive,” said BCB Group CEO Oliver von Landsberg-Sedi in a comment to CoinDesk.
The head of the startup spoke of plans to raise an additional $10–15 million by the end of 2021. At present, the total funding for BCB Group stands at $5.5 million.
According to the press release, over the past 12 months the company’s revenue grew by a factor of 19. In 2020 the startup processed payments and deals worth more than $4 billion.
In February, BCB Group introduced the new service BCB Treasury, which will give clients access to Bitcoin and other digital assets. With it, corporations will be able to trade, manage and store cryptocurrency as part of their strategy.
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