What to know:
- BVNK raised $50 million in Series B funding to help fund expansion of its operations in the U.S.
- Formed in late 2021, BVNK raised $40 million in Series A funding the following May and won registration in Spain a few months later.
- The company has been expanding its operations in the U.S. for the past year, opening an office in San Francisco and applying for operational licenses.
As an analyst with over two decades of experience in the financial industry, I find BVNK’s recent $50 million Series B funding round for U.S. expansion highly intriguing. Having witnessed the rise and fall of numerous fintech startups, it’s refreshing to see a stablecoin infrastructure platform like BVNK making such significant strides in a short period.
The cryptocurrency infrastructure company BVNK recently secured a $50 million investment in their Series B round, aiming to broaden their U.S. business activities.
In late 2021, BVNK was established, and it secured $40 million during its Series A funding round in May of the same year. Shortly after, it received approval for operation in Spain.
Over the last year, the firm based in London has been growing its presence in the United States. It established an office in San Francisco, assembled a workforce, and submitted applications for necessary permits to operate.
According to an email sent to CoinDesk, BVNK has submitted applications for licenses in every U.S. state. So far, it has received approval in Alabama, Arizona, Delaware, Florida, Michigan, and New Hampshire.
Haun Ventures took the lead in our most recent funding round, with participation also from Coinbase Ventures and Tiger Global, as we announced yesterday.
The organization seeks to facilitate businesses in adopting stablecoin transactions within their operations, enabling them to handle global contractor payments swiftly, execute immediate settlements with vendors, and distribute payouts promptly without the complications of delays or currency exchange risks.
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2024-12-17 19:56