BCB Group has been boosted by a $60 million Series A funding round, as it continues to back the digital asset economy.
The funding round has been co-led by Foundation Capital with participation from BACKED VC, PayU (the fintech and e-payments business of Prosus), Digital Currency Group, Nexo, Wintermute, Menai Financial Group, Circle, Tokentus Investment, Cowa, Profluent Ventures and LAUNCHub Ventures.
BCB Group Founder and CEO Oliver von Landsberg-Sadie commented: “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.
BCB Group provides business accounts, cryptocurrency and foreign exchange market liquidity and custody for a number of the world’s largest crypto-engaged financial institutions.
Angus Davis, General Partner at Foundation Capital added: “BCB Group enjoys a leadership position at the intersection of crypto and traditional banking, two sectors where Foundation Capital has been an active investor for many years. We are excited to support Oliver and his team’s growth ambition to provide payments, liquidity, custody, yield and other financial services to the growing global ecosystem of crypto-native businesses.”
Alex Brunicki, co-founder and partner at BACKED VC also stated on the news: “We have been deeply impressed with Oliver and his team’s ambition and humility, let alone their resilience in building an institution over many volatile years in the crypto space. At BACKED, we are confident that BCB Group has the product, customer relationships and capital to dominate the European crypto banking landscape and beyond over the next few years. We are thrilled to be partnering with them.”