BVNK raises $40m in Series A funding led by Tiger Global
Tiger Global led the Series A round to fund international expansion and product development.
≈ £32.8M at $1 = £0.8194 on 12 May 2022
BVNK develops stablecoin payments infrastructure that unifies banks and blockchains into a single platform for global transactions.
London-based cryptocurrency startup BVNK has secured $40m in a Series A funding round, lifting its post-money valuation to $340m. The round was led by Tiger Global, with participation from The Raba Partnership, Avenir, Kingsway Capital, Nordstar, Concentric, and Base Capital, alongside several angel investors including founders from Anchorage Digital, Coinlist, Eco.com, and TrueLayer, as well as former executives from Microsoft, Stripe, and Jump Trading.
The capital will be deployed to support international expansion into markets such as the USA, secure regulatory licences, enhance product capabilities, and grow the senior team across product, engineering, and commercial operations.
Founded in 2021, BVNK offers an API-first platform that lets merchants integrate cryptocurrency payments and manage treasury flows without dealing with complex conversion processes. The company currently handles over $2bn in annualised payments volume.
From the founder
"We are excited to partner with Tiger Global given their in-depth understanding of the global crypto, payments and banking landscape and with them having backed key crypto infrastructure companies, such as NEAR protocol and TRM, and payments companies Stripe and Revolut."
Jesse Hemson-Struthers
CEO at BVNK
Investor perspective
"Rapid adoption of cryptocurrencies by global businesses adds complexity to treasury management, banking, and payments. BVNK’s platform helps companies seamlessly switch between fiat and crypto. We believe BVNK, with its focus on product differentiation and compliance, is poised to be a market leader, and we’re excited to partner with Jesse and the team."
Alex Cook
Partner, Tiger Global
Use of funds
- 01Expand into international markets
- 02Grow the team
- 03Continue product development
Investors
Alex Cook
Tiger Global
The Raba Partnership
Avenir
Kingsway Capital
Nordstar
Concentric
Base Capital