BCB Group, Europe’s leading payment service provider for crypto assets, has received a buyout offer, according to three sources with direct knowledge of the situation. The company was only after a potential Series B funding round before being offered a takeover deal.
An investor approaches BCB Group for a buyout
According to individuals who requested to remain anonymous, the BCB Group received a takeover proposal from an investor while looking for Series B funding options.
One of the individuals said that the group was not actively up for grabs and that there were no ongoing negotiations. However, BCB Group refrained from commenting.
The possible acquisition of BCB Group reveals a relatively elevated M&A activity, particularly in the UK’s crypto space. In July, Zodia Markets, a crypto-focused trading firm backed by Standard Chartered’s venture arm, also confirmed its planned purchase of Elwood Technologies’ over-the-counter trading division.
BCB group wrapped up a Series A funding round in 2022
Towards the end of January, BCB Group announced the completion of its Series A funding round, raising over $60 million. The investment round was co-led by Foundation Capital, with additional backing from BACKED VC, PayU (Prosus’s fintech branch), Digital Currency Group, Nexo, Wintermute, Menai Financial Group, Circle, Tokentus Investment, Cowa, Profluent Ventures, and LAUNCHub Ventures.
North Island Ventures, Blockchain.com Ventures, Rockaway Blockchain Fund, Pantera, and L1 Digital also contributed, making this the most significant funding round ever achieved by a blockchain company in the UK.
BCB Group Founder and CEO Oliver von Landsberg-Sadie commented at the time of funding:
Our mission is to connect and bank the global crypto industry. This game-changing financing, backed by both venture capital and strategic client interests, empowers us to accelerate that mission and build bigger, better, deeper infrastructure, which is so critical to the growth of this industry.
Oliver
Angus Davis, General Partner at Foundation Capital, also expressed his excitement about working with BCB group in payment provisions, liquidity, and in offering other financial services for the growing crypto space.
Before BCB Group acquired the Series A funding in 2022, they had raised another funding round in March 2021, co-led by North Island Ventures and Blockchain.com Ventures, with participation from Pantera, L1 Digital, Pack Capital, and Rockaway Blockchain Fund. Moreover in March 2019, the company had acquired over $1 million in a seed round, receiving backing from from NKB Finance and a private investor.