BCB Group has raised a record £44 million Series A round for a UK-based blockchain company.
The London firm provides business accounts, cryptocurrency and foreign exchange market liquidity to financial institutions through an API-led platform.
The round was co-led by Foundation Capital with participation from BACKED VC, PayU, 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 in the round.
BCB Group has processed nearly $100 billion worth of payments since launching five years ago.
“Our mission is to connect and bank the global crypto industry,” founder and CEO Oliver von Landsberg-Sadie.
“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.”
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.”