Stablecoin payments infrastructure firm BVNK raises $50m series B round

BVNK, a stablecoin infrastructure platform founded in 2021, announced that it has raised $50 million in its Series B funding round.

The platform plans to use this funding to drive the next phase of growth of its business, it said in a statement. blog post on December 17. Funding is crucial to its mission of expanding stable payments.

The $50 million Series B follows BVNK’s $40 million Series A funding round, which took place in May 2022 and was led by venture capital firm Tiger Global. Notably, BVNK had announced plans raise $50 million during a new funding round in November 2024.

Financing, which values ​​the company 750 million dollars, comes as the London-based stablecoin infrastructure company aims to strengthen its presence in the United States. The project has sought regulatory approvals in several states, obtaining licenses in Alabama, Florida, Michigan and Delaware, among others.

With venture capital backing, BVNK aims to streamline global payments for U.S. businesses. BVNK Co-Founder and CEO Jesse Hemson Struthers commented:

“For BVNK, this is the right time to redouble our efforts in our mission. Closing this funding round is a vote of confidence in our strategy and allows us to bring stable coin payments to one of the largest global markets: the United States.

Jesse Hemson Struthers, Co-Founder and CEO, BVNK

Haun Ventures led the Series B investment round, with participation from Coinbase Ventures, DRW Venture Capital and Scribble Ventures. Existing investors Avenir and Tiger Global also supported the increase.

BVNK and Circle announcement a partnership in October, aiming to use their collaboration to expand the utility of the USDC stablecoin to more types of payments, including payroll and large-scale payments. The platform also unveiled its self-custody solution dubbed Layer1 earlier this year, aiming to help businesses easily adopt stablecoins.