Crypto-service-oriented payments startup BVNK closed a $40 million Series A funding round at a $340 million valuation led by Tiger Global.
It is with great excitement that we announce the closing of our Series A funding round — $40 million has been raised in a round led by Tiger Global Management.
Today marks a special day in our vision to create a seamless way to transact between fiat and crypto. https://t.co/Dq86gZU3WI
— BVNK (@BVNKFinance) May 12, 2022
The round also included The Raba Partnership, Avenir, Kingsway Capital, Nordstar, Concentric, Base Capital and unnamed business angels.
Through the API, BVNK partner clients have access to operations with “hundreds” of digital assets and fiat currencies. Initially, the company positioned itself as a bitcoin exchange with a focus on emerging markets and money transfers.
BVNK offers direct bank account integration to save on payment card transactions.
According to the startup, in terms of the year, the volume of payments exceeded $ 2 billion.
Recall that in April, the fintech company Bolt Financial agreed to take over the payment blockchain startup Wyre Payments for ~$1.5 billion.
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