London-based stablecoin startup BVNK is exploring a new funding round, aiming to raise $50 million as investor interest in the sector increases. The company is looking at expansion opportunities.
BVNK's History and Achievements
Founded in 2021 by Donald Jackson and Jesse Hemson-Struthers, BVNK previously secured $40 million in Series A funding, valuing the company at $340 million post-money. Tiger Global led the round, with participation from The Raba Partnership, Avenir, Kingsway Capital, and others.
New Funding Round
BVNK, processing $8 billion in payments annually and employing over 270 people, is in early funding discussions. The size of the raise and its valuation are still subject to change.
Interest in Stablecoin Sector
Investor interest in the stablecoin sector is high following Stripe's acquisition of Bridge, a stablecoin infrastructure provider, though the deal's finalization remains uncertain. BVNK, holding regulatory licenses in the U.K., Spain, South Africa, and Malta, offers users the ability to replace traditional banking services by buying, selling, and transferring both fiat currencies and cryptocurrencies.
BVNK continues to strengthen its position in the fintech market with plans to secure significant investments, reflecting growing interest in the stablecoin segment. This could support the company's further development and expand its presence in international markets.
