- BCB Group has received an acquisition approach from an investor.
- This approach comes as the cryptocurrency payments company is considering a Series B funding round.
- The business has not been officially listed for sale and there are no ongoing negotiations, one source said.
BCB Group, a payment processing company that connects cryptocurrency companies with banking systems, has received an offer from an investor, according to three people familiar with the matter.
Interest in the deal was initiated by a potential buyer while the London-based company was considering a Series B funding round, the people said, asking not to be identified as the matter is private. said the person.
One of the people said the business has not been formally listed for sale and no negotiations have taken place.
BCB declined to comment.
M&A activity in the UK crypto industry has intensified in recent months. Elwood Technologies, the crypto-focused trade execution and risk management platform backed by billionaire hedge fund manager Alan Howard, announced in July that its over-the-counter trading arm will be acquired by Standard Chartered-backed Zodia. Sold to Markets.
BCB completed a $60 million Series A funding round in January 2022. The round was co-led by Foundation Capital with participation from BACKED VC, PayU (Prosus' electronic payments business), Digital Currency Group, Nexo, Wintermute, and Menai Financial Group. , Circle, Tokentus Investment, Cowa, Profluent Ventures, LAUNCHub Ventures.
Previous investors North Island Ventures, Blockchain.com Ventures, Rockaway Blockchain Fund, Pantera, and L1 Digital also participated in the Series A round.
In April, the payments company was authorized by France's two main financial regulators, ACPR and AMF, to act as an electronic money institution (EMI) and digital asset service provider (DASP). He said France would become the regulatory hub in Europe.
BCB's former CEO, Oliver von Landsberg-Sadie, left the company in November to pursue new opportunities and was replaced by Oliver Tonkin. His resignation comes just five months after deputy CEO Noah Sharp decided to exit the business following the failed acquisition of Germany's Suter Bank.
