BACKED VC, PayU, Wintermute, Digital Currency Group, Nexo, Circle, Menai Financial Group, Tokentus Investment, Cowa, Profluent Ventures, LAUNCHub Ventures also participated in the round. As well as former investors North Island Ventures, Blockchain.com Ventures, Pantera, Rockaway Blockchain Fund and L1 Digital.
Thus, according to the statement, the round was the largest for this stage of financing in the United Kingdom blockchain industry.
Providing clients with a range of services for payments
BCB Group provides clients with a range of services for payments in cryptocurrencies and fiat, trading digital assets and storage through a unified platform.
In January 2020, the BCB Payments subsidiary received a payment operator license from the UK Financial Conduct Authority (FCA).
Later in March 2021, BCB Group raised $4.5 million to obtain licenses in Singapore, Switzerland and other jurisdictions. Investment firm North Island Ventures and a provider of cryptocurrency wallets Blockchain.com led the funding round.
Earlier, a London-based company introduced the BCB Treasury service, which opened access to Bitcoin and other digital assets to customers. With its help, corporations can trade, manage and store cryptocurrencies as part of their strategy.
Furthermore, Dubai-based Falcon Corporate Services FZC has become the first customer of the Treasury service. It has allocated 75% of its reserves to Bitcoin, which is equivalent to several million dollars.
Over five years of operation, the firm has processed payments worth about $100 billion.
“Our mission is to connect and bank the global crypto industry”
BCB Group said that the new financing will go toward to geographical expansion of the business, as well as the purchase of shares of “critical infrastructure partners.”
“Our mission is to connect and bank the global crypto industry. This game-changing financing backed by both venture capital and strategic client interests, empowers us to accelerate that mission and build bigger, better, deeper infrastructure which is so critical to the growth of this industry,” said Oliver von Landsberg-Sadie, founder and CEO of BCB Group.
Recall that in December 2021 BCB Group acquired Sutor Bank, founded in 1921.