BCB Group Attracts Takeover Interest Amid Growth in Crypto Sector

BCB Group Receives Takeover Interest from Investor

BCB Group, a prominent payments processor that connects cryptocurrency firms with the traditional banking system, has reportedly attracted the attention of a potential investor interested in acquiring the company. This information comes from three sources familiar with the situation, who spoke under the condition of anonymity due to the private nature of the discussions.

The interest in a buyout was initiated by the investor while BCB Group was in the process of exploring a Series B funding round. However, it is important to note that the company is not officially on the market, and no active negotiations are currently underway, according to one of the sources.

In response to inquiries regarding the situation, BCB Group declined to provide any comments.

The UK cryptocurrency sector has seen a surge in merger and acquisition (M&A) activity in recent months. A notable example includes Elwood Technologies, a cryptocurrency-focused trade execution and risk management platform backed by billionaire hedge fund manager Alan Howard, which sold its over-the-counter trading division to Zodia Markets, a firm backed by Standard Chartered, in July.

Previously, BCB Group successfully closed a $60 million Series A funding round in January 2022. This funding round was co-led by Foundation Capital and featured participation from a range of investors, including:

• BACKED VC
• PayU (the e-payments division of Prosus)
• Digital Currency Group
• Nexo
• Wintermute
• Menai Financial Group
• Circle
• Tokentus Investment
• Cowa
• Profluent Ventures
• LAUNCHub Ventures

Additionally, previous investors such as North Island Ventures, Blockchain.com Ventures, Rockaway Blockchain Fund, Pantera, and L1 Digital also participated in the Series A funding round, highlighting the confidence investors have in BCB Group’s potential.

In April, BCB Group received authorization from France’s regulatory authorities, the ACPR and AMF, to operate as both an Electronic Money Institution (EMI) and a Digital Assets Services Provider (DASP). This approval marks France as BCB’s regulatory base in Europe, positioning the firm for further growth in the region.

The company has experienced significant leadership changes recently. Former CEO Oliver von Landsberg-Sadie departed in November to explore new opportunities, with Oliver Tonkin stepping in to take over his responsibilities. This transition occurred just five months after Deputy CEO Noah Sharp decided to leave the firm following the unsuccessful attempt to acquire Sutor Bank in Germany.