British crypto processor brings in $60 million for expansion in Europe

London-based digital asset technology provider BCB Group has closed a $60-million Series A round. The funding was 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. Existing investors North Island Ventures, Blockchain.com Ventures, Rockaway Blockchain Fund, Pantera and L1 Digital also participated.

This is the largest Series A funding round for a company in the blockchain industry in the UK. The company had earlier raised strategic funding round in March 2021, co-led by North Island Ventures and Blockchain.com Ventures.

The platform offers business accounts, cryptocurrency, and foreign exchange market liquidity and custody for a significant number of the world’s largest crypto-engaged financial institutions.

The additional funds will enable the company to provide payments and market infrastructure across more regions, helping those markets to grow, as well as acquire strategic stakes in critical infrastructure partners.

Talking about how the company is connecting the global crypto industry, Oliver von Landsberg-Sadie, Founder and CEO, BCB Group said: “This game-changing financing backed by both venture capital and strategic client interests, empowers us to accelerate our mission and build bigger, better, deeper infrastructure which is so critical to the growth of this industry.”