BCB Group raises $4.5m in a strategic funding round

BCB Group has raised $4.5 million in a strategic funding round as it aims to built its BCB Treasury product, which caters to companies wanting to purchase Bitcoin

London-based digital asset service provider, BCB Group, has closed a $4.5 million strategic funding round co-led by North Island Ventures and Blockchain.com Ventures.

BCB us a multi-faceted business that focuses on providing business accounts and trading services for companies involved in digital assets.

Currently, BCB group provides accounts and payment processing for the world’s largest digital asset institutions including Bitstamp, Coinbase, Galaxy and Kraken.

According to a press release shared with Coin Rivet, BCB has experienced 19x volume growth over the past year. In February 2021 alone, it processed more $4 billion in payments.

The capital raise will aid the development of the BCB Treasury, which is designed to help companies invest in Bitcoin as a treasury asset.

BCB Group Founder and CEO Oliver von Landsberg-Sadie, said: “There’s so much more we want to offer our clients, and many untapped regions we’d like to be in to help those markets grow via reliable payments and market infrastructure.

“This funding round comes at a very exciting time for BCB Group and will be transformative for our client experience.”

Samuel Harrison from Blockchain.com Venture, added: “Access to banking services and the disconnect between fiat banking and core crypto services has been a longstanding pain point for blockchain companies. BCB addresses a large and growing need with their holistic service offering, which industry leaders have grown to now rely on”

BCB Group previously received funding from NKB Finance and a private investor in a $1m seed round in March 2019 which brought in much needed talent in engineering and operations.

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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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