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