BCB Group Receives Buyout Offer Amid Series B Funding Search

BCB Group, a leading European payment service provider in the crypto industry, has attracted a buyout proposal while exploring Series B funding options. According to sources familiar with the matter, the company had not been actively seeking acquisition but was approached by an investor during its funding efforts.

Unexpected buyout offer for BCB Group

Sources close to the situation, who wished to remain unnamed, confirmed that BCB Group received an unsolicited buyout offer from an investor. The company, however, was primarily focused on securing Series B funding to further its operations. BCB Group has not negotiated despite the offer, and the proposal details remain confidential. The company has declined to comment on the matter.

This development highlights increased mergers and acquisitions (M&A) within the UK’s crypto sector. In July, Zodia Markets, a crypto-focused trading firm supported by Standard Chartered’s venture arm, recently disclosed its plans to acquire Elwood Technologies’ over-the-counter trading division. This trend indicates a growing interest in consolidating resources within the crypto space, with BCB Group being the latest target.

BCB group’s series a funding success

BCB Group completed a significant Series A funding round in January 2022, raising over $60 million. The funding was co-led by Foundation Capital and included contributions from prominent investors such as BACKED VC, PayU (Prosus’s fintech branch), Digital Currency Group, Nexo, Wintermute, Menai Financial Group, Circle, Tokentus Investment, Cowa, Profluent Ventures, and LAUNCHub Ventures. Additional support came from North Island Ventures, Blockchain.com Ventures, Rockaway Blockchain Fund, Pantera, and L1 Digital, marking this as the most significant funding round achieved by a blockchain company in the UK.

BCB Group’s Founder and CEO, Oliver von Landsberg-Sadie, emphasized the importance of this funding in advancing the company’s mission to connect and bank the global crypto industry. He highlighted that the financing, supported by venture capital and strategic clients, would enable BCB Group to enhance its infrastructure, which is crucial for the crypto industry’s growth.

Angus Davis, General Partner at Foundation Capital, expressed enthusiasm about partnering with BCB Group to expand payment services, liquidity provision, and other financial services in the growing crypto sector.

Previous funding milestones

Before securing Series A funding, BCB Group had completed a prior funding round in March 2021. This round was co-led by North Island Ventures and Blockchain.com Ventures, with participation from Pantera, L1 Digital, Pack Capital, and Rockaway Blockchain Fund. In March 2019, the company raised over $1 million in a seed round, supported by NKB Finance and a private investor.

These funding milestones have positioned BCB Group as a key player in the crypto payments sector, attracting significant investor interest and paving the way for future growth opportunities. The recent buyout offer reflects the company’s strong market position and the increasing consolidation within the crypto industry. As BCB Group continues to explore its Series B funding options, the potential for acquisition remains a noteworthy development in the evolving landscape of crypto finance.

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